FOR IMMEDIATE RELEASE
SOUTH FLORIDA'S LARGEST RUNNING EVENT ACQUIRED
MARATHON, COMMUNITY HAVE HEALTHY FUTURE UNDER NEW OWNERSHIP
MIAMI (January 14, 2008) – PR Racing, Inc. has announced that it has been
acquired by US Road Sports & Entertainment Group of Dallas, Texas ("US Road
Sports"). Under the new ownership, staff and plans for the 2008 ING Miami
Marathon and Half Marathon® on January 27 will be unaffected. The
announcement of the acquisition supports the growth of the event and a
continued investment in the health, business and community of South
Florida.
Under the terms of the transaction, company founders Robert Pozo, Gaby Pozo
and Frankie Ruiz will remain in senior leadership positions and continue
their focus on creating, maintaining and staging some of the most
recognized events in the country and a growing participant sports community
in South Florida.
PR Racing is a six-year old health and fitness event management firm based
in Miami, Florida. The company is the leading producer of running and
endurance events in the South Florida market and has generated a vibrant
running and triathlon market through the production and promotion of
successful events. Their portfolio is centered on the largest road race in
South Florida, the ING Miami Marathon and Half Marathon®, a globally
acclaimed event. Other properties include the Publix Escape to Miami
Triathlon and the Blue Cross and Blue Shield of Florida Running Series, a
complete running season for the community of South Florida.
The objectives of the partnership include the continued development of one
of the top running events in the country as a globally recognized and
distinguished destination race with increased participation and public
awareness. US Road Sports will move forward with plans to enhance all of PR
Racing's events with added media and sponsor support, delivering superior
value to its base- the participants, sponsors and municipalities.
"Our initial goal in 2002 was to create a world class marathon that the
community could embrace and that would draw the world of running to South
Florida," said Robert Pozo, Race Director and co-founder of PR Racing. "In
2003, we took our first steps toward that goal, enhanced the event in 2006
with the addition of a global partner in ING and now we are excited to make
the jump with US Road Sports to become one of the top events and race
companies in the United States."
"US Road Sports has identified PR Racing as a national leader in their
industry and their performance history and consistent growth over time are
strong indicators of continued success," said Greg Laird, President of US
Road Sports and Entertainment Group. "We are excited about this powerful
partnership- a synergy between the dedicated team at PR Racing and the
expertise and industry experience of US Road Sports," said Laird. "We will
continue to grow the business and further strengthen the company's
competitive position."
"The principals of US Road Sports have experience in media and a
demonstrated track record of investing in and growing the properties they
partner with, a background we believe will lead to a flourishing future,"
Pozo said.
###
|
