MSL Sports & Entertainment Seeks Investors To Stay In Business
MSL Sports & Entertainment is "seeking investment partners so it can stay in business" after it lost millions of dollars in March after postponing its "Gridiron Bash at 16 campus locations because of NCAA compliance issues," according to Lefton & Smith of SPORTSBUSINESS JOURNAL. MSL President Shawn Garrity said that the agency's staff has "been downsized as the agency seeks outside financing." However, he "disputed the industry buzz that MSL has gone out of business." Garrity added that the agency invested "more than $10[M] in guarantees to the schools, band bookings and other promotions." MSL also had to "refund about $1.4[M] in tickets that were sold." A college marketing source said, "They have been shopping themselves all over the college landscape." The source added that MSL wants $2.5-3M and "has been offering most, if not all, of the company" (SPORTSBUSINESS JOURNAL, 5/5 issue).
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