Team Sports Shareholders From Georgia Sue William G. Miller CHARLOTTE, N.C., March 3 /PRNewswire-FirstCall/ -- Team Sports Entertainment, Inc. (BULLETIN BOARD: TSPT) , announced today four shareholders have filed suit in the Superior Court of Fulton County, Georgia against the company's former Chief Executive Officer, William G. Miller of Alpharetta. The shareholders bringing the derivative action in the civil suit are Georgia residents: Robert J. Wussler, William Wortman, Stephan N. Cass and Sherrie Farrugia and are represented by Benjamin M. Garland, Esq. Of Hall, Bloch, Garland & Meyer from Macon, Edward T. M. Garland of Garland, Samuel & Loeb, from Atlanta and James Clinton Garland of Commercial Litigation Group from Tulsa, Oklahoma. Also named in the action was Jon Pritchett who was President of Team Sports Entertainment, Inc. when Miller was CEO of the company. Pritchett now resides in Michigan. The suit alleges breach of contract, wrongful conversion of Company monies, mismanagement, breach of fiduciary duty, and fraud on the part of the defendants while serving the Company in their respective positions in 2001 and 2002. The plaintiffs, on behalf of Team Sports, were all shareholders and residents of Georgia. In May, 2001, Team Sports Entertainment, Inc. announced the formation of Team Racing Auto Circuit (TRAC) that was set to begin racing in May of 2003. The new league was slated to combine traditional motorsports with a team concept that was expected to yield three or four car teams in a minimum of six large markets across America. Legendary driver, Cale Yarborough was hired as the Company's spokesman. Over the two year period, the league managed to build three prototype cars, secure contracts with the six SMI auto racing venues, and were in negotiations with ESPN for television rights which was eventually announced in April of 2003. Miller departed the Company in August of 2002 and Pritchett shortly thereafter. In August of 2003, the Company discontinued its efforts to begin the racing league which had been postponed until 2004. At that time, the Company cited an inability to sell operating rights for six teams and to generate sufficient sponsorships to maintain the league. Since that time, the Company has downsized to two employees and is attempting to develop new business for the corporation. Edward Garland stated, "The Company and its directors thought they were getting an experienced CEO capable of completing the Company's team auto racing concept. Instead, it got a man full of greed who wanted control of the company for himself. As a result, we contend in the lawsuit that Team Sport's shareholders suffered market losses in excess of $50,000,000." Safe Harbor Act Disclaimer: This release containsforward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission. DATASOURCE: Team Sports Entertainment, Inc. CONTACT: Charles Jeter of Team Sports Entertainment, Inc., +1-704-992-1290

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