Tennis Industry News

The Grand Opening of the New and Improved Midtown Athletic Club in Chicago, Illinois

Chicago will once again witness the unveiling of an innovative sports resort this summer. Midtown Athletic Club is gearing up for the grand opening of its new expansion, one that’s completely different to anything people have seen in the state – or anywhere else in America. This July, the six-level fitness center on the border of Lincoln Park and Bucktown will launch a boutique hotel within the facility, which highlights its $75 million transformation into a luxury sports resort.

Usually gyms open inside hotels, not the other way around. Thanks to Evanston-based firm, DMAC Architecture, Midtown Athletic Club expanded from 150,000 square feet to 575,000 square feet. It also helps that this famous tennis club’s features are redesigned by no less than V Starr Interiors, a company owned and operated by future hall of fame inductee, Venus Williams.

V Starr Interiors is drawing up plans for one of Midtown Athletic Club’s four new suites, as well as multiple Olympic-size swimming pools and outdoor decks. One of these open air facilities can and will be transformed into an ice hockey rink during the winter. They also plan to redecorate its tennis lounge – a sport that Venus Williams and Midtown Athletic excel at.

These improvements only add to the legacy of Midtown Athletic Club in Chicago and in the tennis industry overall. Midtown has always been a leader in the world of tennis clubs, with many of its locations integrating innovative technologies into training and playing. All 16 indoor tennis courts at Midtown Athletic Club offer a service called PlaySight. According to tennis site Play Your Court who cover the Chicago area, this is a camera and kiosk system that records each game, providing accurate line-calling, fast live-streaming, and on-the-spot multi-angle video replays. Furthermore, guests will feel like bona fide pros, considering that Midtown offers the most cutting-edge technology to its members and guests to utilize.

Recently, Midtown Athletic Club gave a select few a taste of some of its new amenities. In addition to a boutique hotel, the sports facility expanded its fitness program, giving members a bevy of options available all over the club’s first three levels. There will be a studio for strength and conditioning workouts, a 40-foot soccer pitch, and an NBA-level basketball court. It will also have a boxing gym and a Cycle Journey studio, as well as two golf simulators and three squash courts.

Part of Midtown Athletic Club’s expansion focuses on the development of young athletes. They’ll soon provide specialized fitness options for kids who want to learn the basics of whatever sport they choose. Best of all, the facility plans to have Venus Williams curate their signature tennis program, providing real life inspiration to novice players.

All in all, Midtown Athletic Club truly is a one-of-a-kind sports facility. It covers everything from sports training, to fitness and conditioning, to relaxation and leisure.

Midtown Athletic Club will open on July 15, 2017.

Courtplay Athletics Secures Management Contract for Burke Racquet & Swim Club

Sports Club Advisors advised Courtplay Athletics, LLC, a Northern Virginia based, full-service tennis management firm, on its acquisition of the tennis management contract at Burke Racquet & Swim Club (“BRSC”), Burke, VA.

Burke Racquet & Swim Club is a 56,000 square foot, all indoor fitness center opened in March, 1985 and offers a full range of group fitness classes, water aerobics, tennis and swim team activities plus sport rock climbing.  It is one of the most diversified fitness centers in the metropolitan Washington DC area.

Founded by Michael Harper Jr. and Farshad Garakani (nationally renowned tennis professionals), Courtplay Athletics brings comprehensive pathways, programming and services to its students and members.

Sports Club Advisors worked closely with Courtplay Athletics in developing the financial models, strategy and negotiating the deal.  Michael Harper spoke about his experience working with Jim Bates and Rich Jackim, the founding partners of Sports Club Advisors:

Michael Harper, CEO, Courtplay Athletics

“Working with Sports Club Advisors has been amazing. Rich and Jim definitely understand the industry in a way that most M&A specialists don’t. They truly see both sides of the deal and their guidance on this project was invaluable. As an entrepreneur, being responsible for the day to day operation of my business, it can be hard to always see all the angles, especially as we scale. It’s safe to say that without Jim and Rich this deal would not have worked out the way that it did. We look forward to continuing to work with them as move forward with the development of our brand. ”

Sports Club Advisors is the premier advisory firm to the sports and fitness industry.  SCA’s services include:  sell-side mergers & acquisitions, buy-side mergers & acquisitions, valuation, and strategic management consulting.

For more information contact Jim Bates at  mobile:  847.404.4566 or jbates@sportsclubadvisors.net

Sports Club Advisors Helps Agape Tennis Academy Secure Management Contract

Sports Club Advisors advised Agape Tennis Academy (“Agape”), a full-service tennis management firm, on securing the tennis management contract at DeKalb Tennis Center, a 17-court tennis facility in Decatur, GA. Sports Club Advisors helped Agape find, target, and negotiate the deal.

DeKalb Tennis Center is a premier public tennis facility located in Decatur, Georgia. DeKalb Tennis Center, known for its pyramid shaped facility with a pro shop sitting at the peak, offers 17 hard, lighted tennis courts, a full scale pro shop with bathrooms, showers, and lockers rooms, also re-stringing, tennis equipment, a café with espresso drinks, snacks, and other beverages, Wi-Fi and other tennis necessities. DTC is also renowned around the state of Georgia due to its hosting of numerous large scale tournaments, socials, and events, including several ALTA (Atlanta Lawn Tennis Association) and USTA (United States Tennis Association) City Championships each year.

Agape, founded in 2012 by Amy Pazahanick (a seasoned tennis pro from the Atlanta area), brings top quality tennis programs to communities via a full range of tennis programs to all levels and ages. Agape’s core beliefs are: Honesty, Excellence, Attitude, Responsibility, & Teamwork. Agape will utilize its core beliefs to build and expand the tennis center into one of the premier facilities in the Atlanta area.

“Sports Club Advisors was with me every step of the way. I would not have acquired the DeKalb location without them.” stated Pazahanick.

Jim Bates, Partner – Sports Club Advisors, helped Agape find and negotiate the opportunity. “Working with Amy was a pleasure” stated Bates…” she is the rare combination of player, coach, and businessperson. I have no doubt that DeKalb Tennis Center will flourish under her leadership and vision.”

Sports Club Advisors is the premier advisory firm to the sports and fitness industry. SCA’s services include: sell-side mergers & acquisitions, buy-side mergers & acquisitions, valuation, and strategic management consulting.

For more information contact Jim Bates at Mobile: 847.404.4566 or at jbates@sportsclubadvisors.net.

TIA Partners with Sports Club Advisors On ‘Strategic Management Initiative’ for Tennis Facilities

HILTON HEAD ISLAND, SC (May 18, 2016) — The Tennis Industry Association (TIA) has announced a strategic partnership with Sports Club Advisors (SCA) of Chicago in the areas of strategic management and financial advisory services for tennis clubs and facilities.

Through the TIA’s “Strategic Management Initiative,” Sports Club Advisors will provide a range of services that tennis and health facility owners can take advantage of, including Mergers & Acquisitions, Business Broker Services, Exit Planning Services, Business Valuation, Industry Benchmarking, Operational Consulting, Education & Certification, Executive Search Services, and Raising Capital.

“The TIA recognizes the need to provide sophisticated financial advisory services to its members as facility managers and owners navigate the challenges of operating a tennis facility in the 21st century,” says TIA Executive Director Jolyn de Boer. “With this partnership, facility owners now have a place to go for resources, education and assistance.” Sports Club Advisors also is now a part of the new TIA Knowledge Base (tennisuniversity.org/strategic-management), which provides tennis industry businesses with resources and information to help them succeed.

Sports Club Advisors is led by Jim Bates and Rich Jackim, two seasoned deal-makers and published authors with over 30 years of combined experience advising business owners. Bates, who co-authored the book “Business Valuation for Dummies”, has also been in the tennis business for 30 years, and Jackim, a former merger & acquisitions attorney and investment banker, has held senior leadership roles at national firms.

“Rich and I are passionate about helping privately held business owners,” Bates says. “We are excited about the role we can play to help further this game and this industry.”

To learn more about Sports Club Advisors, visit sportsclubadvisors.net. Owners can receive a Free Opinion of Value of their club, and prospective buyers can register to receive notices of investment opportunities in the tennis, sports and fitness industries. TIA members at the Associate level and above receive 10% off all Sports Club Advisors fees.

About Sports Club Advisors
Sports Club Advisors is the first industry-specific firm of its kind. Led by Jim Bates and Rich Jackim, the Chicago-based advisory firm will provide “Wall Street caliber investment banking services to the tennis & fitness industry.” The two principals are seasoned deal-makers and published authors with over 30 years of combined experience advising business owners. Bates also an expert in the tennis industry both on and off the court, having taught tennis for 30 years. He was named PTR Pro of the Year for Illinois in 2012, has written for TennisPro magazine, speaks at TIA and PTR events, and holds three PTR certifications. Jackim was a mergers & acquisitions attorney with White & Case in New York City. He also has an MBA from the Kellogg Graduate School of Management and worked as an investment banker. Visit sportsclubadvisors.net or contact jbates@sportsclubadvisors.net or rjackim@sportsclubadvisors.net.

About the TIA
The Tennis Industry Association, the not-for-profit trade association for tennis, is THE unifying force in the tennis industry whose mission is to promote the growth and economic vitality of tennis by working closely with the U.S. Tennis Association and industry partners to develop and implement initiatives to increase tennis participation and improve the health of industry businesses. Core TIA activities include producing more than 70 research reports annually on participation and consumer/trade research, in addition to Grow the Game Initiatives such as PlayTennis.com, Cardio Tennis, 10 and Under Tennis, the GrowingTennis System™, and Careers in Tennis. Visit TennisIndustry.org or call 866-686-3036.