Assante Sells Part of Sports Practice to Leigh Steinberg.Business Editors WINNIPEG, Manitoba--(BUSINESS WIRE)--April 1, 2003 Assante Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :LMS) announced today that it has reached an agreement that will see sports agent Leigh Steinberg acquire for Cdn$6 million a portion of the player representation business from Steinberg & Moorad, an Assante subsidiary. "This move will favourably impact Assante's bottom line on a go-forward basis," said Dr. Harvey Schiller, chief executive officer of Assante US. "It's also an opportunity for Leigh to get back to his roots in a smaller business setting, and make a fresh start. We wish Leigh well as he embarks on this new stage of his life." Assante does not expect the agreement to hinder its ongoing pursuit of remedies relating to litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against Steinberg's former protege, David Dunn, and some of his former employees. Assante will continue to own one of the largest sports representation practices in North America, with four firms representing professional players in baseball, basketball, football and hockey. In addition to Steinberg & Moorad, which has a large professional baseball practice, the Assante group includes Maximum Sports Management, focusing on NFL football, Fegan & Associates, specializing in NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= basketball player representation, and M.D. Gillis & Associates Ltd., representing NHL NHL Non-Hodgkin's lymphoma, see there hockey players. Assante Corporation provides a range of state-of-the-art portfolio management and integrated wealth management services exclusively through financial advisors affiliated with Assante Corporation. Headquartered in Winnipeg, Manitoba, Assante Corporation takes a multidisciplinary approach multidisciplinary approach A term referring to the philosophy of converging multiple specialties and/or technologies to establish a diagnosis or effect a therapy to financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment advice, wealth management, estate and succession planning, insurance and business and sports management services - Assante Life Management Solutions(TM). The company's mission is to simplify and enhance the lives of its clients by providing integrated financial and personal services personal services n. in contract law, the talents of a person which are unusual, special or unique and cannot be performed exactly the same by another. These can include the talents of an artist, an actor, a writer, or professional services. that are tailored to each client's unique objectives. |
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