Another Sucker, Another $10,000

[rockhound]

Lexington getting ABA team
By Josh Sullivan - jsullivan@herald-leader.com

Professional basketball is coming to town in 2009.

According to an announcement Monday by the American Basketball Association, the league is adding an expansion team in Lexington that is scheduled to begin play in November.

The team will be owned by local businessman and University of Kentucky graduate Anthony Chase and will join the Kentucky Bisons as the second ABA squad in the state.

"Lexington has a rich tradition of great basketball fans, and I believe they'll step up to support this team," said Chase, who will be the general manager. "Seeing Kentucky develop the Horsemen and the Legends, I just felt like this was a natural fit."

Lexington's team, which has yet to be named, probably will feature several local players.

Each member of the Bisons played college or high school hoops in Kentucky. Their roster includes former UK point guard Brandon Stockton and former Henry Clay and Georgetown player Aubrey White.

"We want to get local guys who at least played college basketball at Kentucky schools," Chase said.

Tryouts for the team are tentatively scheduled for July.

Players are likely to earn $300 to $400 a game in an inaugural season that will probably include 30 games, according to Chase.

Chase said he and his staff are in negotiations to establish Lexington Catholic High School as the venue for the new team.

"Nothing has been finalized right now, but that's certainly our prime plan," he said.


http://www.kentucky.com/179/story/655883.html

I thought you had to be smart to graduate from UK, I guess not.

Based on the comments to the article most of the people are in on the "secret" about the ABA. :D

[Sam Hill]

JoeBot3000 press release quote:

"(LEXINGTON) is one of the great basketball cities in the US with a tremendous tradition of the highest quality basketball," stated Joe Newman, ABA CEO. "We are very pleased and proud to be there; it certainly fits beautifully into our division and the competition should be great. And we have a fabulous owner in (TONY CHASE), who will serve as the GM also. His knowledge of basketball and business is perfect - we believe he will do very well on and off the court."

Replace (LEXINGTON) and (TONY CHASE) with your city and your name and you have the next press release quote.

[runninref]

Whatever happened to the KY team owned by the fight promotion guy?:mrgreen:

[jimbocollins]

Whatever happened to the KY team owned by the fight promotion guy?:mrgreen:

I am the "fight promotion guy". I didn't start out looking for an ABA team. I started out trying to contact the ABA to let them know that a man doing business as an ABA "team owner" had written me a BAD check for 80K.

Jason Smith wanted to buy into my fight promotion and used his "ABA" credentials as his background. He was spending money left and right on everything from Limo's to computers to TV coverage. I was in his office when the Mayor of Bowling Green came and made a lot of strong statements about how the city would back him and the ABA team.

I was fooled and that is my lesson learned. I was going to try to regain some of my losses by getting into the ABA at Joe Newman's suggestion. He offered me a team for 15K and said I could make monthly payments. I put together a nice team and our venue for this season fell through, but Newman kept sending me pressuring emails about "market reservation payments". With my account over 30K in the negative due to Mr. Smith and the Bank mistakingly telling me his check had cleared, I just didn't have the extra money to continue with the team at that time.

Now, after much research (which, I admit I should have done before) I don't think I want to get involved in this league. Good luck to those who do and good luck to all the men who are trying to get a shot at playing pro ball somewhere. Maybe someday I will be able to get involved in basketball, but I don't think it will be in the ABA.

[betchabygollywow]

Wow

Much success to you.

[LightningMan]

Maybe someday I will be able to get involved in basketball, but I don't think it will be in the ABA.
Albeit too late to save him his already spent dough, at least this place has saved him from spending any more. This, A1, is why this forum is still here.

[The Sweeper]

A1 is over on the CBA board bragging about how he 'correctly predicted' the CBA would cease operations.

[Sam Hill]

A1 is over on the CBA board bragging about how he 'correctly predicted' the CBA would cease operations.

Did Paul S then give him kudos for being Nostradamus?

[Paul S]

Lexington getting ABA team


Professional basketball is coming to town in 2009.



No you are not.................you are getting ABA basketball. No schedule, no money, no games, no league.........nothing about this outfit is professional.

Lexington getting ABA team

Players are likely to earn $300 to $400 a game in an inaugural season that will probably include 30 games, according to Chase.


No they are not.............they will be lucky to get a free t-shirt. In fact if they come out broke they are ahead of the game. Most of these guys pay $150 to try out in this madhouse.


Lexington getting ABA team


"Nothing has been finalized right now, but that's certainly our prime plan," he said.



Of course not...........nothing will be finalized anytime soon, in fact nothing will be finalized at all. Not in this league.

I am the "fight promotion guy". I didn't start out looking for an ABA team. I started out trying to contact the ABA to let them know that a man doing business as an ABA "team owner" had written me a BAD check for 80K.

Jason Smith wanted to buy into my fight promotion and used his "ABA" credentials as his background. He was spending money left and right on everything from Limo's to computers to TV coverage. I was in his office when the Mayor of Bowling Green came and made a lot of strong statements about how the city would back him and the ABA team.

I was fooled and that is my lesson learned. I was going to try to regain some of my losses by getting into the ABA at Joe Newman's suggestion. He offered me a team for 15K and said I could make monthly payments. I put together a nice team and our venue for this season fell through, but Newman kept sending me pressuring emails about "market reservation payments". With my account over 30K in the negative due to Mr. Smith and the Bank mistakingly telling me his check had cleared, I just didn't have the extra money to continue with the team at that time.

Now, after much research (which, I admit I should have done before) I don't think I want to get involved in this league. Good luck to those who do and good luck to all the men who are trying to get a shot at playing pro ball somewhere. Maybe someday I will be able to get involved in basketball, but I don't think it will be in the ABA.

WOW!!!. Best of luck to you sir. I got involved with this circus when I was working for a financial firm. A woman called up in tears and shouting. Her husband had taken out a 401k loan from us to buy a team.....needless to say his story had much the same result as yours and I started following this looney bin on these boards.

Did Paul S then give him kudos for being Nostradamus?

No not yet. But he is a big boy and can fight his own battles, he doesn't need me.

[TEN]

I was fooled and that is my lesson learned. I was going to try to regain some of my losses by getting into the ABA at Joe Newman's suggestion. He offered me a team for 15K and said I could make monthly payments. I put together a nice team and our venue for this season fell through, but Newman kept sending me pressuring emails about "market reservation payments". With my account over 30K in the negative due to Mr. Smith and the Bank mistakingly telling me his check had cleared, I just didn't have the extra money to continue with the team at that time.

OK...some things from this paragraph jump out at me..."He offered me a team for 15K and said I could make monthly payments..."

This just solidifies exactly what is wrong with the ABA...If you can't afford the 15K market reservation and you have to pay it in installments....then you have ABSOLUTELY NO BUSINESS being in the pro basketball business...To do it right, you better have at least 15K to spend before you even bring in a dollar....Even in the USBL, 15K was on the low end of a weekly budget (12 week season with a budget of around $200-300K).

$15,000 dollars is nothing when compared to the expenditures to do this right...

Unless you are a millionaire, or have partners, you should not be in this business....

Joe Newman telling you that you could "regain your losses" with an ABA team is totally on you...Any amount of due diligence...or a Google search...should have told you that this was completely unrealistic...

[jimbocollins]

I was fooled and that is my lesson learned. I was going to try to regain some of my losses by getting into the ABA at Joe Newman's suggestion. He offered me a team for 15K and said I could make monthly payments. I put together a nice team and our venue for this season fell through, but Newman kept sending me pressuring emails about "market reservation payments". With my account over 30K in the negative due to Mr. Smith and the Bank mistakingly telling me his check had cleared, I just didn't have the extra money to continue with the team at that time.

OK...some things from this paragraph jump out at me..."He offered me a team for 15K and said I could make monthly payments..."

This just solidifies exactly what is wrong with the ABA...If you can't afford the 15K market reservation and you have to pay it in installments....then you have ABSOLUTELY NO BUSINESS being in the pro basketball business...To do it right, you better have at least 15K to spend before you even bring in a dollar....Even in the USBL, 15K was on the low end of a weekly budget (12 week season with a budget of around $200-300K).

$15,000 dollars is nothing when compared to the expenditures to do this right...

Unless you are a millionaire, or have partners, you should not be in this business....

Joe Newman telling you that you could "regain your losses" with an ABA team is totally on you...Any amount of due diligence...or a Google search...should have told you that this was completely unrealistic...
Yeah I had been destroyed by a con man and was trying anything to get back to being able to feed my family. Like I said, I learned my lesson. Thanks for pointing it out. I didn't know that it was totally on me, but now that you said it in your post, I realize it.

I actually had several other things that were projected to net me close to $100K just as I started talking with Newman, but due to the financial backlash and turmoil that Smith left me in ( it is much deeper than the check he wrote me. He also wrote my vendors and fighters 10's of thousands in bad checks) my fight company also fell apart.

I am rebounding now and I am starting to get back on my feet. I also have several lawsuits pending and will be able to provide a good life for my family soon. Still, it will not be in the ABA.

[dougjohnson41472]

[B]There is no way that a minor league team can make it in the state of Kentucky. The big blue monster (University of Kentucky) can't be competed against.