Business
Valiant Eagle, Inc. (PSRU) Inks Massive Sports Deal With The American Basketball Association to Establish ABA Canada
Valiant Eagle, Inc. (PSRU) Inks Massive Sports Deal With The American Basketball Association to Establish ABA Canada.
About this update from Valiant Eagle Inc.
[{"type":"text","content":"Toronto, Canada, February 1, 2021 - Valiant Eagle Inc. (OTC PINK: PSRU) today announced that, after extensive negotiations, it has signed a massive sports deal with the American Basketball Association (ABA). Under the terms of the agreement, Valiant Eagle will own and develop the American Basketball Association Canada with the same format as the one used by ABA Australia, ABA Mexico and the WABA.Xavier Mitchell, CEO of Valiant Eagle Inc., states, “Initially, we wanted to purchase the whole league. However, after extensive due diligence, we believe it to be more lucrative to develop and own ABA Canada. The Toronto Raptors NBA basketball team is now estimated to be worth more than Toronto’s NHL hockey team, the Maple Leafs, and its baseball team, the Blue Jays. We will now exploit this relatively untapped market for the benefit of our shareholders.”Indeed, in Canada, basketball had long lived in the shadow of ice hockey, but in the early 21st century, the sport saw a rise in popularity, partly due to the Toronto Raptors, the expansion National Basketball Association (NBA) franchise established in 1995. The Vancouver Grizzlies was another NBA expansion franchise based in Vancouver, British Columbia from 1995 to 2001, after which it relocated to Memphis, Tennessee. Players like DeMar DeRozan and Vince Carter have made an impact on Canadian sports going mainstream. Now, basketball is sizzling in Canada which is poetic since a Canadian invented the sport.Valiant Eagle via ABA Canada will offer and develop a select number of teams throughout Canada. Valiant intends to launch teams in certain key markets. The company is making plans to air all its ABA Canada games on television using streaming technology managed by Xavier Media Group (another Valiant Eagle subsidiary). This is expected to be a significant source of revenue. ABA Canada will be responsible for all expenses in managing and developing the league with the assistance of the ABA and will determine market reservation costs and split revenues equally with the ABA. Revenues from media, sponsorships and merchandising will be split 75% to ABA Canada, with 25% going to the ABA. ABA Canada will begin its branding and marketing by developing its logo and website. Valiant Eagle is authorized to use the ABA brand in developing ABA ...