Champions Sports Inc. signs joint venture letter agreement with George Naddaff.MCLEAN, Va.--(BUSINESS WIRE)--Oct. 7, 1996--Champions Sports Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Symbol - CSBR CSBR Center for Sustainable Building Research ), owner and licenser of CHAMPIONS Sports Bar Restaurants, announced Monday that it signed a joint venture letter agreement with George Naddaff to assist Champions Sports Inc. (CSI CSI Crime Scene Investigator CSI CompuServe, Inc. CSI Commodity Systems, Inc. CSI Commodity Systems Inc. (Boca Raton, FL) CSI Crime Scene Investigation (CBS TV show) CSI Christian Schools International ) in actively searching and selection of merger or acquisition candidate(s). Naddaff will also join the board of directors of CSI. James Martell, chairman and president of CSI, stated, "We are very pleased to sign this agreement with George Naddaff and to have him join our board. Mr. Naddaff is the former chairman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of Boston Chicken, best known for discovering and developing a single Boston Chicken store into a national operation. "Recently, Mr. Naddaff raised $15 million through an I.P.O. and formed Food Trends Acquisition Corporation, a Specified Purpose Acquisition Company, which merged with Silver Diner diner, restaurant resembling the railroad dining car that is its source. In the mid-19th cent., the first dining cars that appeared on trains were nothing more than an empty car with a fastened-down table. George M. Development Inc. in March 1996. Silver Diner operates six diners Diners can mean:
"He is also the vice chairman of First Mortgage Network, a mortgage lending company. Mr. Naddaff's proven experience and ability with highly successful business ventures, as well as strong financial resources, will greatly assist the company in attracting potential merger or acquisition candidates." Martell further stated, "In the analysis of our company's long term situation, it became clear to the management that we would have to seek additional opportunities and to pursue other restaurant or business ventures in order to maximize shareholder value. It is for this reason that the company signed the agreement with George Naddaff." Naddaff said, "My relationship with Champions Sports Inc. allows me once more to use my entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. instincts which have worked so well for me in the past. I intend to bring all of my resources to bear in finding the right match for our company." Champions will open its fifth international Sports Bar Restaurant in the Beirut Marriott Hotel in Beirut, Lebanon this month. Other international Champions are located in Frankfurt, Germany; Dubai, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. ; Amman, Jordan; and Jakarta, Indonesia. Champions Sports Inc. is the owner and licenser of 18 CHAMPIONS Sports Bar Restaurants. Of the 18 locations, 16 are in Marriott hotels with whom the company has a national licensing agreement. CONTACT: Champions Sports Inc., McLean James Martell, 703/556-3332 or Business Expansion Capital Corp. George Naddaff, 617/630-4400 |
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