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Resolution Approving a Request for Consent to Transfer the License Agreement from the Cougars Baseball Partnership and American Sports Enterprises Inc. to REV Equity Ventures LLC
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WHEREAS, It is deemed necessary and desirable to request consent from the Forest Preserve District of Kane County, Kane County, IL Board of Commissioners (the “District”) regarding Cougar Baseball Partnership and American Sports Enterprises, Inc. (collectively the “Cougars” related to its interest under the existing stadium license (the “License Agreement”) for Northwestern Medicine Field and related amenities (the “Stadium”); and
WHEREAS, A request has been made by the Cougars and REV Equity Ventures, LLC (“REV”) for approval of an assignment of the License Agreement interest held by the Cougars pursuant to a proposed majority interest sale of the Cougars’ baseball organization to REV; and
WHEREAS, the request for approval has been made to the District by the Cougars Baseball Partnership and REV under the terms of the License Agreement for the assignment of the Cougars’ interest under the License Agreement by it as Licensee to REV Equity Ventures, LLC, which provision states that such consent and approval will not be unreasonably withheld.
NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of the Forest Preserve District of Kane County, Kane County, Il, that the District hereby consents to the assignment of the Cougars’ License Agreement interest to REV, and that all terms are effectively equivalent or better than presently exist under the current arrangement between the District and the Cougars; and
BE IT FURTHER RESOLVED that the President and Secretary of the District be, and hereby are, authorized to execute such reasonable and customary documents in accordance with the foregoing resolution to acknowledge and grant consent for the Cougars Baseball Partnership and American Sports Enterprises Inc. to transfer its interest under said License Agreement attached hereto as Exhibit A to REV Equity Ventures, Inc. or such other entity it may designate for these purposes to effectuate the proposed sale of the Cougars to REV.
APPROVED AND PASSED on this 11th day of February, 2025.
___________________________ ____________________________
Bill Lenert Mo Iqbal
President, Kane Forest Preserve Secretary, Kane Forest Preserve
Kane County, Illinois Kane County, Illinois