Olympian Michael Phelps and his coach, Bob Bowman, hoping to replicate their athletic success in the world of business, will announce a partnership today aimed at transforming the Meadowbrook Aquatic Center in Mount Washington into a world-class training facility.
Their newly formed company, Aquatic Ventures LLC, will own the Aquatic Center and its two 50-meter pools. It will also oversee the North Baltimore Aquatic Club, which has produced seven Olympic swimmers since it was founded in 1968.
"I think our goals are the same," Bowman said. "We want to offer the finest family-based facility in the state, if not the East Coast. I think what makes it so special is that it can be a unique blend of both, not just an elite training center."
Bowman said the formation of Aquatic Ventures LLC, for now, is related only to the current Meadowbrook facilities. Plans to expand and buy the ice rink next door, a rumor that surfaced during the Olympics when Phelps accidentally mentioned buying a pool during a sleep-deprived interview with NBC's Bob Costas, have not become reality. At least not yet.
The Northwest Ice Rink announced at the end of August that it was closing after 50 years. In a letter taped inside the door of the ice rink on Labor Day, Jackie Eliasberg, chairman of the rink's board and resident agent for Northwest Family Sports Center, said she wanted to "thank our many customers for their support over the years."
"There is really nothing I can say about that," Bowman said. "Would we like to expand the North Baltimore Aquatic Club? Yes, we would. I feel certain that we will eventually. But we haven't moved forward on anything yet. And when we do, I'm confident that we'll have more than one option."
Phelps' and Bowman's personal relationship - which began in 1997 at Meadowbrook when Phelps was 12 years old and Bowman was a newly hired swim coach - has produced more gold medals than any other in Olympic history. But their business relationship has evolved since the pair returned home in August from the Beijing Olympics, where Phelps won a record eight gold medals.
After living and training in Ann Arbor, Mich., for four years, both decided to return to Baltimore after Bowman worked out an agreement to become the North Baltimore Aquatic Club's chief executive officer.
Phelps, suddenly one of the most coveted product endorsers in the United States, expressed interest in making a financial commitment to the facility.
