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NFL ENTERS JOINT VENTURE TO DEVELOP INTERACTIVE COMPLEXES
Published January 23, 1998
The NFL has entered a "more than" $100M joint venture with FL-based real-estate firm St. Joe Corp to develop a "chain of interactive entertainment centers" that would include "technology-based games," restaurants and retail stores, according to Fatsis & Carrns of the WALL STREET JOURNAL. The project, a "spinoff" of the NFL Experience, is "[t]entatively dubbed" NFLX. NFL officials estimate that it would cost "more than" $100M to develop the first of a planned seven to nine such centers, which is scheduled to open in New York City in "late" '99. The league has targeted other U.S. cities, including Boston and L.A., with plans to expand to "key" int'l markets with interest in the NFL including Tokyo, London, Frankfurt and Barcelona. Plans call for 35,000 square-foot facilities to look like NFL stadiums, housing virtual reality activities. NFL execs project the centers "could generate up to" $170M a year and "be another significant revenue source for a league awash in money" (WALL STREET JOURNAL, 1/23).