When we launched GL2S in November of 2007, gas was around $2.50/gallon, the stock market was near 14,000, and the economic outlook was generally optimistic. Who could have predicted that during the 2008 season, gas would go as high as $4.50/gallon (more on the water), the stock market would be less than 8,000, the American auto industry along with many others would be in critical condition, and the economy would hit a brick wall? Looking back, 2008 and 2009 have become the perfect storm of negative factors in which to launch this new venture.
Although we received enthusiastic support from tournament anglers, most of the traditional tournament sponsors from the fishing industry were already feeling the pinch of a slowing economy. We knew going in that our long-term success depended on getting the participation of corporate sponsors from outside the fishing industry. Given the current economic conditions, a number of corporate sponsors who were engaged in various stages of participation with GL2S have had to deal with the harsh realities of reduced marketing budgets and tighter constraints on their remaining spending.
In the face of rising unemployment and weakened consumer demand sponsors are having to make tough choices, and spending money on GL2S, which is a developing media property with minimal track record, is just not in the cards for 2009. Those sponsors that were already onboard have been given relief from any existing contracts and reluctantly we have chosen to suspend GL2S for the 2009 season. This decision was not made lightly and was based on the best course of action for the long-term viability of GL2S and those sponsors that had committed for the 2009 season. Our hope is for the predicted return of economic growth in 2009 so we can begin preparations for the GL2S 2010 season.
We still believe that the core concepts of GL2S are sound and that it could work in the right economic environment. In the meantime, we will leave the GL2S website and videos online for your enjoyment. We welcome any input or ideas that you may have for GL2S, so feel free to contact us anytime. Thanks again to all our sponsors, tournaments, anglers, fans, supporters, advisors and cheerleaders...we appreciate all that you have done for us!
Team GL2S |
