Undervalued Sports Properties?

Team Sports Entertainment Signs Letter of Intent to Acquire Idea Management GroupWednesday September 1, 1:52 pm ET

DALLAS--(BUSINESS WIRE)--Sept. 1, 2004--Team Sports Entertainment, Inc. (TSPT), announced today that it has reached an agreement and entered into a non-binding Letter of Intent to acquire Idea Management Group, Inc. Based on the completion of required security-related filings and agreed-upon due diligence, it is anticipated that the acquisition will be completed by September 15, 2004.

William C. Morris, Chairman & CEO of Idea Management Group commented, "We are extremely excited about the upcoming acquisition by Team Sports Entertainment. This relationship will allow us a financial platform that will enable us to meet our anticipated growth needs".

About Team Sports Entertainment, Inc.

Team Sports Entertainment, Inc. is a sports and entertainment marketing and management company dedicated to developing undervalued sports and entertainment properties and discovering niche opportunities to serve underdeveloped market segments.

About Idea Management Group Inc.

Corporately based in Lake City, South Carolina, with regional offices in Charlotte, NC, New York, NY, and Atlanta, GA, Idea Management Group Inc. is a creator and developer of entertainment content focusing on sports and general entertainment properties. Its current project base includes motion pictures, television, publishing, sports properties, licensed merchandise, and direct-to-retail videos.

Contact: Idea Management Group, Inc.
Jim McKinney or Camala Osborne, 843-374-4332;
843-374-5565 (fax); info@ideamanagementgroup.com
Investor Relations:
investorrelations@ideamanagementgroup.com
Source: Team Sports Entertainment, Inc.