Ivey League CEO Dan Fleyshman: "We're Not in the Process of Raising $20M"
According to MergerNetwork.com, an online community that "provide training and tools for people who are looking to buy or sell a business," Phil Ivey's training site, Ivey League, is either for sale or looking to raise seed money. Asking price: $20 million.
Problem is, it's not true, according to Ivey League CEO Dan Fleyshman.
"We're not interested in selling Ivey League whatsoever at this point, we're just getting started on the expansion into multiple business segments," Fleyshman explained to PokerNews. "We're not in the process of raising $20 million either. That website simply stole some internal projections/concepts and misworded what it means to sell a company and raise money. Huge difference."
Listing #370186, which Fleyshman has requested MergerNetwork.com remove, states that Ivey League offers a summary of the business in which they believe the company could bring in $25-$50 million in revenue per year. It also suggest potential buyers/investors "Build out Ivey's personal brand to reach a larger audience as well as support his efforts in poker and training, with an emphasis on international growth."
"Phil has self-funded the mid-seven figures into the app and training site long before I stepped into help expand the business," said Fleyshman, who became CEO back in November. "We've worked hard the last few months negotiating, designing, strategizing the business expansions into new territories, categories, etc."
The listing explained that potential buyers could "strategically rebrand Phil Ivey and develop branding for Ivey League using his persona and elite reputation" while suggesting Ivey League could increase traffic and revenue by expanding to include Fantasy Sports and sweepstakes; offer immediate access and entry into the bingo and casino games market through an already established partnership with Richard Skelhorn's Costa Bingo and BGO; and explore live training options, which have included WSOP Academy and WPT Bootcamp.
Whether or not those are the "business expansions" Fleyshman alluded to is unknown, thought it does fall in line with what he said after being name CEO.
"I was excited at the idea of really expanding him from Ivey Poker the app and training site into 'Ivey League' the brand," Fleyshman said at the time. "So a few months ago we agreed that we would hire an all-star exec team and the best design agency, PR firm, manufacturers, consultants, programmers, etc. to roll out a dozen product lines and offerings from apparel and headphones to fantasy sports and more."
Executive Editor US, PokerNews Podcast co-host & 2013 WSOP Bracelet Winner.