Vintage Sport and Leisure placed into liquidation
Sports festival operator Vintage Sport and Leisure (VSL) has been placed into liquidation. Tony Maginness and Jared Booth of Baker Tilly Staples Rodway have been appointed liquidators.
Founded in 2000, New Zealand-based VSL is a global sports event management business focused on the marketing and organisation of destination sports events. Since 2004 it has operated sports festivals under the Vintage Sports brand, acquiring the Golden Oldies brand from Air New Zealand in 2012. Both are directed at individuals and clubs in the 35 years and above demographic, with work currently underway planning the first Golden Oldies Association Football (Soccer) event.
“The impact of COVID-19 on the business has been devastating, given the core business is heavily dependent on international travel. However, as lockdowns and quarantine requirements lift, the business will be able to roll out more events and it is likely the impacts will be limited to FY2021,” said Maginness, Director, Specialist Services at Baker Tilly Staples Rodway.
Maginness believed there would be strong interest to buy the business.
The Golden Oldies and Vintage Sports brands are protected by trademarks in several countries and enjoy a very high level of name recognition in all key markets. The business also has an active database of more than 100,000 individuals, teams, associations, and clubs that have supported and participated in festivals.
“It operates globally, with employees and agents in key markets. VSL is also a virtual business, not requiring office premises, and can be run entirely remotely, from anywhere in the world. With a Covid vaccine ready to be rolled out, VSL can be back up and running and profitable next year,” Maginness said.
“This is a great opportunity to buy an exciting business with huge growth potential at a discounted price. If local tourism is anything to go by, there is likely to be a lot of pent-up demand to travel and take part in events when the international borders open up.”