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ARCHIVED  July 1, 1997

Triple Crown ends merger with partner

Companies break up after four years

FORT COLLINS — Triple Crown Sports of Fort Collins is swinging the bat for the last time as a partner of TC-Cramer.

Triple Crown became a 50-50 partner of Cramer Productions of Denver in 1993, thereby forming TC-Cramer. Both companies organize sporting events nationally, with Triple Crown also organizing events in six countries outside the United States.

While Triple Crown deals with more-traditional sports such as baseball and hockey, Cramer organizes three-on-three sports. The merger was supposed to allow TC-Cramer to dribble in both courts.

“We wanted to avoid the learning curve of starting new sports,´ said Dave King, owner of Triple Crown.

However, due to what King called different operational styles, the merger didn’t stick. Time lines, deadlines and funding were too different for each company.

For example, three-on-three sports rely more on sponsors, making them heavy in promotions. Although some of Triple Crow’s revenues stem from sponsors, about 20 percent, the bulk of the company’s funds come from team entry fees, about 55 percent.

“We couldn’t impose the same structure on both operations,” King said. “So, after 4.5 years, we were unsuccessful.”

A letter of intent was signed by the TC-Cramer board of directors May 9. Triple Crown’s stake in the deal includes about $3.5 million in gross revenues, as well as the trade name. Triple Crown is franchising its business — beginning Sept. 1 — and the Denver partner has yet to be renamed.

The letter of intent includes a clause prohibiting Triple Crown from incorporating three-on-three sports into its business until August 1999. King said Triple Crown will, however, enter the three-on-three sports arena again.

“We’re not even ruling out re-mergering,” King said. “It’s just that right now, we’re going in separate directions.”

Companies break up after four years

FORT COLLINS — Triple Crown Sports of Fort Collins is swinging the bat for the last time as a partner of TC-Cramer.

Triple Crown became a 50-50 partner of Cramer Productions of Denver in 1993, thereby forming TC-Cramer. Both companies organize sporting events nationally, with Triple Crown also organizing events in six countries outside the United States.

While Triple Crown deals with more-traditional sports such as baseball and hockey, Cramer organizes three-on-three sports. The merger was supposed to allow TC-Cramer to dribble in both courts.

“We wanted to avoid the learning curve of starting new sports,´ said Dave…

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