Jack Gulati Ready to Make Royals Rule

Reading, PA – Jack Gulati and Fidelity Investment Corporation today announced the finalization of the purchase agreement for the Reading Royals professional hockey team from the Berks County Convention Center Authority and SMG. The agreement has been approved by the ECHL Board of Governors.

In an a press conference today at Santander Arena in Reading, Pennsylvania, Mr. Gulati pledged that the new ownership group intends to push the Royals’ organization to greater heights as a crown jewel ambassador and catalyst for growth in the Greater Reading Region.

“Our philosophy is simple,” said Mr. Gulati, “install the best people, empower them with the best resources available, and demand the best results. The Royals have a spectacular history on the ice—particularly in the last several seasons. The team has had an immeasurably positive influence on our community. But we see untapped potential with this organization, and we have a specific plan that starts with the investment of resources, the installation of an experienced and knowledgeable leadership group, and the energetic pursuit of positive change and growth.”

Mr. Gulati outlined a multi-faceted plan that will be implemented immediately, including:

(i)                 making the professional hockey game night experience a personal choice of first resort, which is accessible to everyone in our community, from long-time fans and season-ticket holders, to persons and families who may not even consider themselves sports fans, to everyone in between;

(ii)               expanding existing partnerships with businesses and community leaders, developing new relationships with corporate partners, and rebuilding relationships that may have existed in years past;

(iii)             investing in improvements in all phases of the game night experience from the moment of arriving to Downtown Reading, to entering the Arena, to enjoying the in-game activities, to the possibility of winding-down with post-game entertainment options in and around the Arena;

(iv)             developing a first-class base of resources (locker room, housing, travel) for players to ensure that top level professional hockey talent considers playing in Reading a premier opportunity;

(v)               recruiting, installing and training an elite management and administrative staff;

(vi)             combining forces with the BCCCA and SMG to make state-of-the-art capital upgrades to Santander Arena; and

(vii)           continuing the organization’s commitment to community support through the expansion of the Royals Charity foundation and the direct infusion of charitable funds and activities within the Greater Reading Region.

Regarding the finalization of the purchase and sale of the Royals, ECHL Commissioner Brian McKenna stated, “on behalf of the ECHL, I would like to thank the Berks County Convention Center Authority and SMG for their stewardship of the Membership over the past several years. At the same time, we would like to welcome Jack Gulati. His strong local ties, business acumen and enthusiasm will undoubtedly be a positive influence on the Royals.”

The Royals play in the Premier Double-AA hockey league, the ECHL, and are affiliated with the Washington Capitals of the National Hockey League and Hershey Bears of the American Hockey League. The team, which is in its thirteenth season, plays home games at Santander Arena.

The Royals, who are the reigning ECHL Kelly Cup Champions, just clinched the team’s second consecutive Eastern Conference Title in the final home game of the regular season before 6,732 fans at Santander Arena on Saturday night. Reading will be the top seed in the Eastern Conference playoff bracket when the post-season commences. The first round Eastern Conference Quarterfinal best-of-seven series will kick off for the Royals at Santander Arena on Thursday, April 17 (7:05 pm et). The team’s first round opponent is yet to be determined.

Gulati, a long-time local community leader, has owned and operated a wide variety of businesses in the Reading area, including Fidelity Technologies Corporation, a leading global supplier of aerospace and defense products and services. He recently spearheaded the spectacular renovation and revitalization of Stokesay Castle, the historic and elegant architectural icon on the peak of Mount Penn in Reading known for fine dining, a luxurious lounge, English-styled pub and multiple facilities for group outings, meetings, and special events. Gulati is also an integral member of the investment group funding the construction of the new DoubleTree by Hilton Hotel and Convention Center in downtown Reading directly across from Santander Arena.

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