Dugout Grayson County
The Future of Youth Sports in North Texas
PineTar Sports Fund
Tim Truman — Managing Partner
Contents
- 01Executive Summary
- 02Proven Track Record of Growth
- 03Market Context
- 04Project Overview
- 05Team
- 06Use of Funds
- 07Returns & Timeline
- 08Financial Projections
- 09Risks & Disclaimer
Ownership Opportunities & Expected Returns
| Funds Raised for 70% Ownership | $1,700,000 |
| Capital Return Target | 38 Months |
| Final Equity Position | Retained 70% Equity Stake |
| Stabilized Profit | ~$400,000 annual triple net profit |
| Tax Efficiency | ~$50K Year 1 depreciation (5% owner) |
Sports and entertainment real estate sits at the intersection of institutional-grade infrastructure and high-demand community assets. Unlike pure commercial real estate, multi-use sports complexes derive income from multiple synergistic streams: events, leases, naming rights, concessions, and youth programming. Dugout Howe Complex is positioned to become the dominant year-round sports and entertainment destination in the North Texas market currently underserved in modern arena capacity.
- Proven Phase I revenue: $300K in Year 2 from athletic operations
- Anchor tenant LOI signed: Committed to 10-year lease
- Scarcity value: Consistent Sell Outs Denison
- Experienced operator: Development team has delivered 5 comparable assets since 2015
Phases
Phase I delivered ahead of schedule and met revenue projections in its first operating year. Phase II construction begins Q3 2026 with a targeted grand opening of Q1 2028. The window to participate in preferred equity is limited to this raise cycle. Once construction milestones are met, capital structure will shift to senior debt refinancing.
- →Phase I operational and cash-flow positive as of January 2027
- →Anchor tenant provides base load revenue certainty
9.1M
Population within 90 miles
$84K
Average Weekend Spend on Sports & Entertainment (2025)
2
Competing mid-tier baseball/softball facilities within 30 miles
$69.1B
Youth Baseball/Softball Market (2025)
Phase 1
Purchase land, build 2 fields, facility infrastructure.
Team
Pine Tar Sports Fund is led by operators with direct experience in professional sports facility development, team ownership, and institutional real estate finance.
Tim Truman
Managing Partner
Larryon Truman, II
Business Development & Investor Relations
Larryon helps translate complex deal structures into materials investors can evaluate quickly and confidently.
First Name Last Name
Role Title
Short bio highlighting relevant experience and role in the project.
Use of Funds
PHASE 1 INVESTMENT & BUDGET OVERVIEW
| Category | Amount |
|---|---|
| Land Acquisition (17.71 Acres) | $470,000 |
| Field Construction (Fields 1, 2, 3) | $935,900 |
| Main Building (30x140) | $235,000 |
| Lighting Systems | $130,800 |
| Preferred Return (Construction Phase) | $193,337 |
| Equipment, Infrastructure & Other | $393,579 |
| Contingency Fund | $141,517 |
| Total Project Cost | $2,500,133 |
Asset Backing
Investors hold 70% ownership shares of the LLC which owns the facility, land, and all improvements.
Financial Prudence
Budget includes a $141k contingency and pre-funded preferred returns to ensure stability during the 12-month build-out.
Strategic Value
The investment secures a prime 17.71-acre location in the high-growth North Texas corridor.
Returns
9%
Preferred Return
30 Mo.
Target Payback
$130K
Month 24 Distribution
70%
Retained Equity Stake
Project Timeline
0-12 Months
Construction Phase
9% preferred return is paid monthly during build-out. Facility opens for business at Month 12.
Month 18
Strategic Refinance
Cash-out refinance returns 50% of initial investment while funding Phase 2 expansion.
Month 24
Capital Distribution
$130,000 distribution to investors. 9% preferred return continues on the outstanding balance.
30-36 Months
Full Payback
Investors are paid in full while retaining equity. Asset is projected to produce $600,000 in annual triple net profit.
Returns are driven by three compounding value creation levers: anchor tenant lease revenue, naming rights monetization, and asset appreciation at stabilization.
Refinance Exit Strategy
Our model prioritizes early capital return through asset stabilization and bank refinancing, significantly de-risking the investment.
Projections
The following operating assumptions summarize the core revenue drivers and key utilization targets from the current investor deck.
| Tournament Income (per team) | $125 |
| Weekend Tournament Capacity Assumption | 24 of 32 teams (75% occupancy) |
| Gate & Concessions (net per team) | $598 |
| Weekday Utilization (per slot) | $100 |
| Weekday Utilization Assumption | 50% occupancy (Mon-Fri) |
| High-Margin Programming (net per camp) | $2,500 |
| Stabilized Annual Triple Net Profit | $600,000 |
| Projected Asset Value | $6,000,000 |
24/32
Weekend teams at target occupancy
75%
Tournament occupancy assumption
50%
Weekday utilization assumption
$6.0M
Projected asset value
$600K
Stabilized annual profit
Disclaimer
This document is provided for informational purposes only and does not constitute an offer or solicitation to purchase securities. Investment in real estate and sports facilities involves significant risk.
- Construction cost overruns or delays could impact projected returns and timeline
- Anchor tenant commitment is subject to final lease execution; LOI terms may change
- Naming rights monetization is subject to market conditions and negotiation outcomes
- Interest rate environment could affect permanent financing terms at refinance
- Sports programming demand and event scheduling are subject to external factors
- Past performance of principals is not indicative of future results
- This offering is available to accredited investors only as defined under Regulation D, Rule 506(c)
- Prospective investors should consult independent legal, tax, and financial advisors before investing
Next Steps
We are accepting commitments from qualified accredited investors for this round. Full data room access is provided upon execution of NDA.
Larryon Truman, II
Business Development & Investor Relations
invest@pinetarsportsfund.com