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GPS Faces Liquidation, NE Surf Trapped Between Feds and Lawsuits
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Originally posted by Unregistered View Post#obsessed.
Anyways, in other news no investor has been found for GP$. Which means no refunds for the 19/20 season and significantly lower credits ($300 max) per player.
Coaches will be told the furlough is extended through Mid August (when 20/21 season begins)
A number of Coaches, Players, teams have left the club and many more are expected to follow.
Any Future For the club is looking increasingly and increasingly Unlikely.
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Originally posted by Unregistered View PostDoes this guy know hashtags are for Twitter? Moron.
Anyways, in other news no investor has been found for GP$. Which means no refunds for the 19/20 season and significantly lower credits ($300 max) per player.
Coaches will be told the furlough is extended through Mid August (when 20/21 season begins)
A number of Coaches, Players, teams have left the club and many more are expected to follow.
Any Future For the club is looking increasingly and increasingly Unlikely.
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Unregistered
Do not put a deposit down
The promises to be a very exciting summer in youth soccer circles even if COVID-19 keeps everyone off the soccer fields.
Multiple news outlets across the country have reported today that the creditors of GPS and its parent company, Legacy Global Sports, are forcing them (Legacy Global and GPS) into bankruptcy and liquidation proceedings. Both organizations are deeply in debt and their remaining assets are likely to be sold to partially satisfy creditors.
Meanwhile, recent soccer startup New England Surf, which lies at the center of many of the problems faced by GPS, is now trapped precariously between pending lawsuits related to the unraveling of GPS and also a series Department of Justice, Homeland Security, and FBI investigations that included fraud, destruction of evidence in a Federal investigation, etc.
Legitimate questions exist about whether GPS teams will ever play another game of soccer and also whether troubled startup NE Surf will ever get off the ground and play it’s first competitive match.
Parents at both clubs are significantly at risk of losing all the monies they have invested each of these clubs for the 2020 season and beyond.
These are certainly very ugly and embarrassing times for soccer in Massachusetts.
https://risoccer.wordpress.com/2020/...tate-lawsuits/
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Unregistered
Originally posted by Unregistered View PostThe promises to be a very exciting summer in youth soccer circles even if COVID-19 keeps everyone off the soccer fields.
Multiple news outlets across the country have reported today that the creditors of GPS and its parent company, Legacy Global Sports, are forcing them (Legacy Global and GPS) into bankruptcy and liquidation proceedings. Both organizations are deeply in debt and their remaining assets are likely to be sold to partially satisfy creditors.
Meanwhile, recent soccer startup New England Surf, which lies at the center of many of the problems faced by GPS, is now trapped precariously between pending lawsuits related to the unraveling of GPS and also a series Department of Justice, Homeland Security, and FBI investigations that included fraud, destruction of evidence in a Federal investigation, etc.
Legitimate questions exist about whether GPS teams will ever play another game of soccer and also whether troubled startup NE Surf will ever get off the ground and play it’s first competitive match.
Parents at both clubs are significantly at risk of losing all the monies they have invested each of these clubs for the 2020 season and beyond.
These are certainly very ugly and embarrassing times for soccer in Massachusetts.
https://risoccer.wordpress.com/2020/...tate-lawsuits/
Yours sincerely
MH (The Obsessed guy)
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Unregistered
Originally posted by Unregistered View PostEveryone at GPS would like to thank BM @ NEFC for taking the spotlight away from gps this weekend.
Yours sincerely
MH (The Obsessed guy)
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