The Legacy Agency's acquisition enhances presence in Latin America and Japan.
Most fans know by now the importance MLB team's place on scouting in Latin America and Asia's Pacific rim. What seems to get glossed over is the roll that agents play as liasons. For theses players and families (who have MLB aspirations, but do not understand the language or the art of negotiation), lean heavily on the agent as a means of trust (it's never easy plucking a kid from a Caribbean, Central or South American country and then placing him in some midwest town without help). Families have entrusted Peter E. Greenburg their kids futures for years. Banking on him to make their sons MLB dreams become reality. The Legacy Agency now carries on that tradition of trust. They have acquired all of the business and assests of Peter E. Greenberg and associates LTD. Here is the press release:
Acquisition enhances TLA’s presence in Latin America and Japan As One Of The Preeminent Representation Firms In SportsFOR IMMEDIATE RELEASE Nov 12, 2012 -The Legacy Agency announces that it has completed the acquisition of the business and assets of Peter E. Greenberg and Associates, Ltd (“PEG”).PEG is the pre-eminent agency in the Latin American baseball market, with an impressive client roster, which includes perennial All-Stars Johan Santana and Jose Reyes. The inclusion of PEG into TLA, is driven through its expertise in Latin America which is a highly strategic area for Major League Baseball (“MLB”) clubs and the Company. Key statistical indicators, which support the rationale for this acquisition include: 23.5 per cent of all MLB players are Latin American, of which the key PEG player markets, the Dominican Republic and Venezuela, represent 10.2 per cent. and 7.3 per cent. of all MLB players respectively. Additionally, it is estimated that approximately 44 per cent. of all Minor League Baseball players are from Latin America, which further highlights the growing trend of Latin American ballplayers participating in MLB.PEG is highly complementary to TLA’s existing businesses in athlete representation and sports marketing, both through the expected enhancement to TLA’s current baseball business and the addition of more high profile athletes for TLA to represent in their off-field endeavours as well as their playing contracts. Following the acquisition the business will be merged fully into TLA and senior management will be retained.The acquisition will substantially enhance TLA’s presence in Latin America and raise its profile in a geography where it is already well established and has previously identified as a growth opportunity for the Company.As a result of the acquisition, TLA will become a leader in the representation and recruitment of Latin American baseball players. The acquisition will join TLA’s existing talent marketing group in New York, with the added benefit of providing TLA Baseball with a presence in the East Coast of the United States, complementing its West Coast operation. It will also provide TLA with a stronger presence in Asia, the third largest baseball player market behind North and Latin America. Commenting on the acquisition, Mike Principe, CEO, said,“We are delighted to have made this strategic acquisition, which cements our position as a market leader in baseball representation. Peter E Greenberg and Associates will provide us with a greater presence in Latin America, and secondarily, Asia, as well as a platform to grow wider in the sports marketing sector. We welcome Peter and his team to TLA and are excited as to the enhanced offering and the opportunities we can provide to our clients.”Peter E. Greenberg commented:“PEG has been providing high quality service, predominantly to Latin American ballplayers for over 15 years and we are very proud of our excellent reputation with our clients and people. We look forward to developing the business and working as part of TLA where we see great benefit to our current and future clients.”TLA Executive Director and President of Baseball, Greg Genske said:Peter Greenberg is an excellent agent with a sterling reputation in our industry. Peter and his team have gone about building a business the right way, with class and integrity, and that is reflected in the quality of work he has done in the United States, Latin America, and Asia. This new partnership will add great value to TLA and our clients, and will help usher in a new, more diverse era for the company.