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On June 25, 2026, Flash Sports & Media Holdings,
Inc. (the “Company”) issued a press release announcing the launch of the Zimbabwe T20 League (“ZT20”), a new professional
franchise cricket league scheduled to debut in October and November 2026. ZT20 is being developed through the Company’s subsidiary,
Innovative Production Group FZ, LLC (“IPG”), in partnership with the Zimbabwe Cricket (“ZC”), pursuant to existing
commercial arrangements. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item 7.01, including
Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or
the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such filing.
(d) Exhibits.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Exhibit 99.1
Flash Sports & Media (Nasdaq: FLZH) Announces
Planned Launch of Zimbabwe T20 League (ZT20)
New professional franchise cricket league
is tentatively scheduled to debut in October-November 2026, subject to definitive documentation, required approvals, venue availability,
player availability, financing, and other customary execution conditions.
Proposed ZT20 league is designed as a long-term
sports, media, and sports-tourism property intended to showcase Zimbabwe as a premier destination for international T20 cricket, with
a grand opening ceremony currently planned for Victoria Falls and matches expected across Harare Sports Club and Bulawayo.
HARARE, Zimbabwe and TAMPA, Fla., June 25, 2026 (GLOBE NEWSWIRE) --
Flash Sports & Media, Inc. (Nasdaq: FLZH) (“Flash” or the “Company”), a cricket-focused sports and media company,
today announced plans for the Zimbabwe T20 League (“ZT20”), a proposed professional franchise T20 cricket league tentatively
scheduled to debut in October and November 2026. The planned launch remains subject to definitive documentation, required approvals, venue
availability, player availability, financing, and other customary execution conditions.
ZT20 is expected to be developed as a long-term sports and media property
through the Company’s subsidiary Innovative Production Group FZ, LLC (“IPG”), in collaboration with Zimbabwe Cricket (“ZC”),
subject to the terms of applicable commercial arrangements and any required approvals. The proposed league is designed to showcase Zimbabwe
as one of Africa’s leading cricket and sports-tourism destinations, with a grand opening ceremony currently planned at the proposed cricket
stadium in Victoria Falls and matches expected to be played across Harare Sports Club and Bulawayo.
Actual revenues, if any, will depend on the specific terms of the Company’s
contractual arrangements and on overall tournament outcomes, and may differ materially from any industry-level references included in
this release. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an
offer to buy, any securities, franchise interests, investment contracts, or other investment opportunities.
ZT20 - LEAGUE OVERVIEW
| |
● | Tournament window: Debut tentatively scheduled for October and November 2026, subject to definitive documentation, required approvals,
venue availability, player availability, financing, and other customary execution conditions. |
| |
● | League: Zimbabwe T20 League (“ZT20”), a proposed professional franchise T20 cricket league. |
| |
● | Tournament structure: Grand opening ceremony currently anticipated at the proposed cricket stadium in Victoria Falls, subject to venue
completion, availability, permits, and applicable approvals; matches expected to be staged across Harare Sports Club and Bulawayo, subject
to scheduling and operational requirements. |
| |
● | Development and operation: Expected to be developed and commercialized through Flash Sports & Media, Inc.’s subsidiary Innovative
Production Group FZ, LLC, in collaboration with Zimbabwe Cricket, subject to definitive documentation and required approvals. |
| |
● | Format: Franchise-based teams expected to feature Zimbabwean and international players, subject to negotiation, availability, eligibility,
scheduling, applicable approvals, and definitive arrangements. |
| |
● | Expected host venues: Victoria Falls, Harare Sports Club, and Bulawayo, subject to venue availability, scheduling, permits, and applicable
approvals. |
| |
● | Distribution: Expected pursuit of global broadcast distribution and digital / streaming initiatives, subject to definitive arrangements
and market acceptance. |
| |
● | Expected commercial model: The league is expected to pursue centralized media rights, sponsorship sales, merchandise, licensing, hospitality,
and related commercial opportunities, subject to definitive arrangements and market acceptance. |
| |
● | Founding franchises: A select number of founding franchises and commercial partnerships may be evaluated and introduced; ownership
groups and commercial partners, if any, would be announced following definitive agreements and applicable approvals. |
| |
● | Target audiences: Africa, Asia, North America, Europe, and the Middle East. |
| |
● | Flash involvement: Through subsidiary Innovative Production Group FZ, LLC under existing and proposed commercial arrangements, subject
to definitive documentation and required approvals. |
A NEW SPORTS PROPERTY IN A HIGH-GROWTH REGION
Zimbabwe combines a passionate cricket following, local and international
cricket talent, and globally recognized tourism destinations, which the Company believes position the country as a compelling platform
for a scalable sports entertainment and sports-tourism asset. If successfully launched, ZT20 is intended to bring professional T20 cricket
to several prominent Zimbabwean locations while promoting the country on the global sports and tourism map.
ZT20 is intended to build long-term franchise and commercial value
through the following pillars:
| |
● | centralized media rights; |
| |
● | franchise and commercial partnership opportunities; |
| |
● | digital and streaming distribution; |
| |
● | merchandise and licensing programs; |
| |
● | grassroots cricket development; |
| |
● | international and local player acquisition; and |
| |
● | sports-tourism activation around iconic venues. |
PLAYER PARTICIPATION
No player has committed to participate in ZT20 unless and until definitive
player agreements or applicable league participation arrangements are entered into. Any references to specific players or player pools
are for contextual purposes only and should not be interpreted as a commitment, endorsement, or agreement to participate.
Zimbabwe cricket has experienced global momentum, with Zimbabwean national
players participating in leading franchise leagues and international tournaments. Zimbabwe’s notable international performances have further
highlighted the country’s ability to compete on the global cricket stage.
Subject to negotiation, availability, eligibility, scheduling, applicable
approvals, and definitive arrangements, the league may seek to include leading Zimbabwean players and international players from established
T20 markets, including India, the West Indies, South Africa, Pakistan, Afghanistan, Bangladesh, England, and other cricket markets. There
can be no assurance that any particular player or category of player will participate in ZT20.
LEADERSHIP COMMENTARY
Givemore Makoni, Managing Director, Zimbabwe Cricket:
“This proposed league has the potential
to provide a valuable platform for Zimbabwean players to compete with top international talent and create new opportunities for cricket
development, commercial growth, and fan engagement across the country.”
Anil Mohan, Founder, The IPG Group:
“Zimbabwe has many of the ingredients required
to become a major T20 cricket destination - passionate fans, strong local talent, iconic venues, and global tourism appeal. With Victoria
Falls currently planned as the launch venue, this proposed league is intended to promote cricket while also supporting Zimbabwe’s profile
on the global sports and tourism map.”
Bradley Nattrass, Chief Executive Officer, Flash Sports & Media,
Inc.:
“Live sports properties and premium media
rights continue to attract global interest. If successfully launched, ZT20 is expected to combine elite competition, iconic venues, digital
distribution, sponsorship opportunities, franchise ownership, and international fan engagement, while extending Flash’s franchise-league
strategy into a high-potential African market.”
FRANCHISE AND COMMERCIAL PARTNER OPPORTUNITIES
The league expects to evaluate a select number of founding franchise
and commercial partnership opportunities. Any franchise, sponsorship, licensing, hospitality, media, or other commercial arrangement would
be subject to definitive agreements, applicable legal requirements, required approvals, and market conditions. No franchise, securities,
or other investment opportunity is being offered or sold by this press release. Potential commercial arrangements may involve sponsorship,
licensing, hospitality, media, merchandise, and other league-related commercial opportunities, but there can be no assurance that any
such opportunities will be completed or generate revenue.
STRATEGIC CONTEXT FOR FLASH
Through its subsidiary Innovative Production Group FZ, LLC, the Company
participates in professional cricket as a sports, media, and experiential platform, with exposure to media, sponsorship, and on-ground
activations through its contractual arrangements. The planned launch of ZT20 is intended to extend the Company’s franchise-league footprint
into Africa, complementing its existing involvement in the Lanka Premier League and the previously announced Malaysia T20 League.
The Company’s economic participation will depend on the specific terms
of its contractual arrangements and on overall tournament outcomes, and may differ materially from any industry-level references included
in this release. ZT20 remains an early-stage initiative and has not yet commenced operations. The Company cannot provide assurance that
ZT20 will launch on the anticipated timeline, that any franchise, sponsorship, media, player, venue, or other commercial arrangements
will be completed, or that the Company will generate material revenue from ZT20.
INDUSTRY CONTEXT (THIRD-PARTY DATA)
For general context only, publicly available third-party reports have
described T20 cricket as a high-engagement global format with substantial international fan interest across South Asia, Southeast Asia,
Africa, the Caribbean, the United Kingdom, and other markets. Reported media rights values for mature, established leagues such as the
Indian Premier League are not comparable to ZT20 and should not be interpreted as indicative of the Company’s expected results, revenues,
valuation, or economic opportunity.
These figures and references relate to the broader industry or to other
leagues and are not a projection of the Company’s financial results, revenues, valuation, or economic impact from ZT20, and should not
be relied on as such. The Company has not independently verified third-party market, industry, or economic data referenced in this press
release and makes no representation as to its accuracy or completeness.
DISCLAIMER
References to the Zimbabwe T20 League, its anticipated format, venues,
franchises, prospective franchise ownership groups, players, partners, sponsors, market size, or economic impact are based on the Company’s
current plans, third-party information, or industry estimates, and are subject to change. The development and launch of ZT20 are subject
to a range of conditions, including definitive agreements, regulatory and governing-body approvals, venue availability, player availability,
financing, and market conditions.
The Company’s involvement is expected to be conducted through Flash
Sports & Media, Inc., Innovative Production Group FZ, LLC, and related commercial arrangements, in collaboration with Zimbabwe Cricket,
subject to definitive documentation and required approvals. References to franchise ownership, player participation, venues, market size,
or economic impact are based on current plans, third-party information, or industry estimates that the Company has not independently verified.
The Company’s actual revenues, if any, will depend on its contractual arrangements and may differ materially from industry metrics referenced
herein.
Nothing in this press release constitutes an offer to sell, or a solicitation
of an offer to buy, any securities, franchise interests, investment contracts, or other investment opportunities. Any future franchise
ownership opportunities, if pursued, would be subject to definitive agreements, applicable legal requirements, and any required regulatory
approvals. No offering of franchise interests or other investment opportunities is being made by this press release.
###
About Flash Sports & Media, Inc.
Flash Sports & Media, Inc. (Nasdaq: FLZH) is a cricket-focused
sports and media company seeking to develop and commercialize cricket media, league-management, sponsorship, and related sports-entertainment
opportunities. Through its relationship with Innovative Production Group FZ, LLC, Flash is focused on professional cricket properties,
media and broadcast opportunities, sponsorships, league operations, and related commercial initiatives. The Company’s business plans remain
subject to execution risks, market conditions, definitive agreements, third-party approvals, and the Company’s ability to finance, develop,
and commercialize its sports and media initiatives. www.flashsportsandmedia.com
About the Zimbabwe T20 League
The Zimbabwe T20 League (ZT20) is a proposed professional T20 franchise
cricket league expected to be developed through Flash Sports & Media, Inc. and Innovative Production Group FZ, LLC in collaboration
with Zimbabwe Cricket, subject to definitive documentation and required approvals. Tentatively scheduled to debut in October and November
2026, and currently planned to launch with a grand opening ceremony at Victoria Falls and matches across Harare Sports Club and Bulawayo,
ZT20 is designed as a long-term sports, media, and sports-tourism property featuring franchise-based teams, Zimbabwean and international
players, broadcast and streaming distribution, and commercial sponsorship opportunities serving audiences across Africa, Asia, North America,
Europe, and the Middle East. ZT20 remains an early-stage initiative and has not yet commenced operations.
About Zimbabwe Cricket
Zimbabwe Cricket (ZC) is the national governing body for the sport
of cricket in Zimbabwe, responsible for the development, administration, and promotion of cricket across the country, and a Full Member
of the International Cricket Council.
About Twenty20 Cricket
Twenty20 (T20) is a format of cricket in which each team plays a maximum
of 20 overs. Introduced by the England and Wales Cricket Board in 2003, T20 matches are typically completed in approximately three and
a half hours. For more information, visit: http://www.t20worldcup.com
ZT20 is an early-stage initiative that has not yet commenced operations.
The league’s successful launch and commercialization remain subject to numerous risks and uncertainties, including execution, financing,
sponsorship, media distribution, regulatory approvals, venue availability, player availability, and market acceptance.
Forward-Looking Statements
This press release contains “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to,
statements regarding the Company’s expectations, beliefs, or intentions relating to the proposed launch, development, and commercialization
of the Zimbabwe T20 League; the development and commercialization of sports and media platforms; potential sponsorship, media rights,
franchise sales, and other commercial opportunities; anticipated market size and growth; the participation of franchises, players, partners,
venues, broadcasters, or sponsors; and the Company’s ability to generate revenues from its activities. Forward-looking statements may
be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,”
“may,” “will,” “could,” “seek,” “estimate,” “potential,” or similar expressions.
Forward-looking statements are not guarantees of future performance, events, or results, and readers should not place undue reliance on
them.
These forward-looking statements are based on current expectations,
estimates, and assumptions and involve known and unknown risks and uncertainties that could cause actual results and outcomes to differ
materially from those expressed or implied by such statements. Such risks and uncertainties include, without limitation: the early-stage
nature of ZT20 and the many conditions to its successful launch and operation; the possibility that definitive agreements with Zimbabwe
Cricket, venues, franchise owners, sponsors, broadcasters, players, vendors, or other counterparties may not be entered into on acceptable
terms, or at all; the possibility that required governmental, regulatory, league, venue, or governing-body approvals may not be obtained;
venue completion, availability, permitting, security, logistics, and operational risks; the Company’s reliance on third-party partners,
including Zimbabwe Cricket, Innovative Production Group FZ, LLC, and other counterparties, to perform under contractual arrangements;
uncertainties regarding the participation, availability, or continued involvement of franchise owners, players, ambassadors, or other
talent referenced in this press release; the possibility that anticipated franchise sales, sponsorships, media rights arrangements, or
other commercial opportunities may not materialize or may be delayed; the extent to which the Company is able to generate revenues, if
any, from ZT20; risks relating to the integration of Innovative Production Group FZ, LLC and the Company’s ability to realize anticipated
synergies; the Company’s ability to develop, monetize, and scale its sports, media, and experiential business lines; the timing and success
of expansion into new markets; the Company’s ability to establish or maintain strategic relationships and commercial arrangements; general
economic, market, and industry conditions; competitive dynamics within the sports and media sectors; international, geopolitical, and
regulatory risks associated with global sporting events; and the Company’s ability to maintain compliance with applicable listing standards
of The Nasdaq Stock Market LLC.
In addition, certain market, industry, and economic data referenced
in this press release are based on third-party sources and estimates that the Company believes to be reliable, but the Company has not
independently verified such information and makes no representation as to its accuracy or completeness. References to prospective franchise
ownership, players, partners, venues, and related individuals are based on the Company’s current plans or on third-party announcements
and media reports that the Company has not independently verified.
Additional factors that could cause actual results to differ materially
from those described in forward-looking statements can be found in the Company’s most recent Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q, as well as other filings with the Securities and Exchange Commission, which are available at www.sec.gov.
Forward-looking statements speak only as of the date of this press
release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
Investor Relations Contact
Investors@flashsm.com
Company Websites
https://flashsportsandmedia.com
https://www.theipggroup.com
A photo accompanying this announcement is available at [GlobeNewswire
to insert media URL].
Photo Caption: Mr. Givemore Makoni, Managing Director of Zimbabwe Cricket,
with Mr. Anil Mohan, Founder of The IPG Group, during discussions related to the proposed Zimbabwe T20 League at Harare Sports Club.
Source: Flash Sports & Media, Inc. (Nasdaq: FLZH)
