FOOD NETWORK FOOTBALL, INC.
FOR IMMEDIATE RELEASE
FOOD NETWORK FOOTBALL, Inc.© Incorporated In Delaware With Offices In New York, New Jersey
Fletcher’s Application For Franchise Name-Change Granted By Commissioner
“This is a very exciting day for the future of this franchise” – Owner and GM Andrew Fletcher
NEW YORK — With a proposal to increase Bobcats4Ever league dues to $50 on the table, CUTTHROAT KITCHEN Owner and GM Andrew Fletcher announced today the formation of the league’s first-ever holding company, FOOD NETWORK FOOTBALL, Inc.©, to manage all aspects of the franchise’s business operations. The company will be incorporated in the state of Delaware to take advantage of its corporate-friendly tax laws with offices in New York and New Jersey. Fletcher will serve as Chairman and CEO of the new company in addition to his football duties.
The name is derived from Fletcher’s tradition of naming his teams after Food Network programming. Fletcher’s franchise was known as CHOPPED CHAMPIONS in 2013 before guiding CUTTHROAT KITCHEN to a fifth-place finish during the 2014 campaign. Fletcher received express written consent from Scripps Networks Interactive for use of its trademarks.
“This is a very exciting day for the future of this franchise,” Fletcher said. “With the potential for increased earnings in 2015, the need to consolidate and manage our assets became much more apparent and we feel this positions us well for this season and beyond.”
CUTTHROAT KITCHEN ranked fifth among the league’s most valuable franchises in a report released by Forbesand Sports Business Journal on Dec. 23.
“Andrew clearly understands the business potential of a successful franchise in this league,” Bobcats4Ever Commissioner Kyle Brennan said. “Creating a holding company through which he can manage all aspects of his franchise is a forward-thinking move. He wants to make sure that there aren’t too many chefs in the proverbial kitchen or hands in the proverbial pot, so this move will allow him to streamline all team business. It smells like a recipe for success.”
Fletcher also announced that he filed an application to request a franchise name-change, which Brennan subsequently granted. Fletcher will unveil his franchise’s new name prior to this summer’s draft.
“While we had increased success under the CUTTHROAT KITCHEN moniker this year, we feel the time has come to choose a new name in conjunction with the formation of FOOD NETWORK FOOTBALL, Inc.©,” Fletcher said. “We can’t wait for you all to see it.”
“Andrew has proven himself as one of our league’s most trustworthy owners, so I believe his franchise’s name change is truly in the best interest of his team and our league,” Brennan said. “This is not a half-baked scheme. I’ve seen the direction in which Andrew has taken his club over the last two years, and he’s really cut the fat where needed. Other owners can use some of his tactics as food for thought. I can’t wait to see what he cooks up this time.”
With the changes the franchise has undergone, Fletcher wanted to make it clear that the objective has not changed.
“Rest assured, this is all part of our retooling effort,” Fletcher said. “We’re here to win and to ensure Matt Eisenberg finishes in dead last. This is not mutually exclusive.”
The proposal to increase league dues from $20 to $50, among other items, will be voted on at this weekend’s inaugural owners meeting in Hamden, Conn.