Peacock Financial Corp. Buys Stake in San Francisco Bay Seals
SAN JACINTO, Calif.--(BUSINESS WIRE)--March 29, 1999--Peacock Financial Corp. (OTC BB:PFCK - news), a publicly traded
investment company, Monday announced that it has acquired an initial 5 percent equity position in the San Francisco Soccer
Development Corp. (SFSDC) with a contract to ultimately own up to 20 percent of the A-League soccer franchise.
The initial 5 percent purchase, valued at $100,000, is being made with shares of Peacock Financial's common stock, and includes an option to acquire an additional 5
percent under the same terms. Additionally, Peacock Financial has negotiated for an additional 10 percent of the SFSDC as an investment banking fee should Peacock
Financial take the corporation public through a process known as a ''spin off.''
Steven R. Peacock, president of Peacock Financial, stated: ''The game of soccer in America is just beginning to develop a strong following. We believe in the positive
message that a first class team, such as the Seals, can bring to a community and especially to its youth. In short, we believe in the future of soccer in America!''
Last week, the company announced the date of record for its shareholders to receive shares it owns of the San Diego Soccer Development Corp. (SDSDC), owner of
the San Diego FLASH. It is anticipated that SDSDC will go public within the next 60 days in what is believed to be the country's first publicly owned professional soccer
franchise.
Peacock Financial is a fully reporting investment holding company registered with the Securities and Exchange Commission as a Business Development Company under
the Investment Act of 1940. Current holdings include investments in real estate, investment banking, program trading, the Internet, lumber importation and professional
sports.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein that are not historical are forward-looking
statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of
products, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
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