ABA Judgment Company PBL thread

[LightningMan]

Figured there needed to be one here.

Here's the release. (http://www.oursportscentral.com/services/releases/?id=3887318)

The CliffsNotes® version is that Joe Newman and Dick Tinkham lost a lawsuit by former partners Steve Jaloza and Sal Fradella concerning what was done to the company that is the ABA which resulted in freezing Jaloza and Fradella out. This was in 2005 IIRC.

Jazola and Fradella have an award due to them from the ABA, Newman, and Tinkham. Rather than stick around for this whole circus, they apparently took a buyout from the PBL, which now owns whatever compensation is awarded.

The AJC will try to prove ahead of the award how much money was gathered by Newman since 2005, where it went, what the original plaintiffs were due because of it, and how much damage ABA et al did.

[not so fast]

Can one of you braniacs please explain to me (in small words) what all of this means? I truly have no clue, and I am not ashamed to say it. (I never watch old lawyer shows just Andy Griffith).

[LightningMan]

Can one of you braniacs please explain to me (in small words) what all of this means? I truly have no clue, and I am not ashamed to say it. (I never watch old lawyer shows just Andy Griffith).
I thought I boiled it down, but I will boil it down even further.

At one point, Jaloza, Fradella, Tinkham, and Newman were all partners in the ABA. Through some means, Newman and Tinkham got rid of the ABA that Jaloza and Fradella were part of and replaced it with one they were not part of.

Jaloza and Fradella sued Tinkham and Newman for doing that. Jaloza and Fradella won. When you win a lawsuit, you are awarded damages, often as a dollar amount. Instead of collecting the damages yourself, you can sell the right to collect your damages to someone else.

The PBL bought the right to collect the damages that were owed to Jaloza and Fradella.

[zeke41]

This is a repost from the ABA thread from me - perhaps this will help! By the way...I heard you were at the camp...were you? Didn't want to introduce yourself?

...

I was a bit curious as to how a process of this nature works. My wife is an attorney working for a firm involved in a plethora of different areas of law (corporate law and litigation are 2 of those areas). What the PBL has done is no different than companies whp purchase life insuarnce policies from people about to pass away. The party assumes control of the judgment and aids in the enforcement.

...

Basically, this company will make sure Newman and the ABA accout for everything over the last few years (profits, market reservations, etc..). Better to have individuals with more interest to assure the judgment is completely followed up on and executed.

Possible ramifications? Witholding the ABA branding license for future markets (forcing Joe to rename the league), additional legal ramifications if accounting is...shall we say, unaccountable, and I'm not sure what the settlement was purchased for, but I'd say there will be a large sum of money coming to this ABA JEC from Newman, since probably half of whatever market reservations he has sold since 2005 were due Jalooza & comp.

Bottom line is...looks like the light at the end of the tunnel that Joe thought he was seeing is no light at all...it's a train pulling a hefty, 5 year load of turmoil! I've got my popcorn...I have a feeling this will be quite entertaining!

[sonnie20]

This should be on the ABA board not the PBL.

[psbf]

Unless someone has their own access to it, OSC no longer covers the ABA.

[LightningMan]

This should be on the ABA board not the PBL.
This is on the ABA board It's also here because the PBL bought the rights to enforce the judgment If you were right about this not belonging here, the mods would take care of it

[sonnie20]

Who cares, Joe, Joe, Joe.....I'm yawning and the PBL still haters.

[ABARedWhiteBlue]

Who cares, Joe, Joe, Joe.....I'm yawning and the PBL still haters.

if you don't care - why are you responding?

[Ken, Steelheads fan]

I thought I boiled it down, but I will boil it down even further.

At one point, Jaloza, Fradella, Tinkham, and Newman were all partners in the ABA. Through some means, Newman and Tinkham got rid of the ABA that Jaloza and Fradella were part of and replaced it with one they were not part of.

Jaloza and Fradella sued Tinkham and Newman for doing that. Jaloza and Fradella won. When you win a lawsuit, you are awarded damages, often as a dollar amount. Instead of collecting the damages yourself, you can sell the right to collect your damages to someone else.

The PBL bought the right to collect the damages that were owed to Jaloza and Fradella.

Hmmmmm. Money is tight and there isn't enough cash to dedicate a person to the sole purpose of expansion in Canada???

http://www.oursportscentral.com/boards/showthread.php?t=15314&page=3

...but there is money to buyout Jaloza and Fradella??? Now the PBL wants to be debt collectors. Debt collectors to the ABA. Another what...two more years of litigation to squeeze blood from a turnip???

The PBL IS too darned concerned about Joe and should instead focus on the business of...hmmmmm...what exactly IS the business model of the PBL?

[LightningMan]

The PBL IS too darned concerned about Joe and should instead focus on the business of...hmmmmm...what exactly IS the business model of the PBL?
Sit down and grab something cold to drink because to a degree...

I agree with you. While I do understand the business reasons that they might be inclined to do this, I still think this is an expression of the egos you love to go on about in this league. I wish them luck in this, but I am not sure this is what the PBL should be concerning themselves with.

[Looks out the window in the summertime]

Is that snow?

[wellington]

I also have to partially agree with Ken on this. I'm still puzzled by what is going on and the real underlying motives. I understand the past associations between PBL execs and the ABA -- there's obviously bad blood and there's no doubt people have been screwed over. But if this is being handled by the courts -- why not let it be handled in the courts? Even if the PBL wins, it's likely only going to be a symbolic victory.

I feel that this is becoming a distraction for the PBL. Wouldn't it be better to keep their noses to the grind stone and make the PBL the best league it can be. In a similar fashion, the China television deal and sponsoring a LeMans car seem to be questionable ventures. Wasn't there some deal in the past with one of the arena leagues -- what became of that? It's great that the PBL has money to splash around, but why not in the short-term invest in the teams and build 10-12 stellar franchises. Help the teams with marketing, sponsorships, ticketing, etc etc. I know the PBL has to focus on the big picture and keep pushing forward with new initiatives, but that needs to be balanced with the need to build a strong, stable league without spreading themselves too thin.

[not so fast]

I agree also. But It must be some real deep scars from the aba and nueman, because this seems to not stop, this struggle between the aba and PBL, which clearly has already proven itself to be a better league.

I am not sure it is healthy for the league to keep this going, but they obviously think it is. There must be a little bit of Dr. Jeckyl and mr. hyde in the Doc. Because I just never see this side of him in person. He seems pleasant, polite, excited about the PBL, it's hard to see him as a person who can't just move on. But to be fair, I have no idea as to what in terms of dollars he may have lost with his involvement with the aba.

Maybe this fight would be better left in court and not on the boards anyway. I sorta remember the Bible scriptures that refers to don't argue with a fool, because someone listening can't tell which is which.

[preeths]

nsf, great points. Regardless of what any of us think of this, the courts won't really care. It's up to them now.

[Minor League Man]

Why is nobody forming a "Fair PBL Championship SERIES Enforcement Company"?

That would make sure the PBL plays two more games between Rochester and Battle Creek at the Kellogg Arena to decide the Championship!

Q: What would happen to Joe Newman if he had a bigger bankroll?
A: We'd start calling him Tom or Sev.

[Pounder]

The point about indulging in this instead of getting on with running a league is a good one.

However, I had a hypothetical spring to mind.

A grisly, public skewering of Joe Newman, held in front of as many arena operators as the PBL can coax to watch, potentially opens the hearts of these people. Possibly, this opens up new markets with better lease terms so that the PBL can expand to places they currently can't go because arenas are tired of Newman-like operations.

This assumes that said arena operators become comfortable with the level of investor the PBL brings forth. In this economy, it's a definite risk. It's an "everyone shoots 3s" strategy, as far as I'm concerned.

I can't even speculate as to how effective this might be. If anything, it does have the appearance of being misguided.

[preeths]

Why is nobody forming a "Fair PBL Championship SERIES Enforcement Company"?

That would make sure the PBL plays two more games between Rochester and Battle Creek at the Kellogg Arena to decide the Championship!

Q: What would happen to Joe Newman if he had a bigger bankroll?
A: We'd start calling him Tom or Sev.

No, that's completely misguided and an over-reaction. Absolutely no one else is Joe Newman, regardless of the size of their bank account.

[LightningMan]

Why is nobody forming a "Fair PBL Championship SERIES Enforcement Company"?

That would make sure the PBL plays two more games between Rochester and Battle Creek at the Kellogg Arena to decide the Championship!
Look, the league screwed the pooch on the championship this year. No one except the league itself would argue otherwise. But it's time to give it a rest.

Q: What would happen to Joe Newman if he had a bigger bankroll?
A: We'd start calling him Tom or Sev.
Wrong. Tom and Sev haven't don't everything they promised, but by gum they've kept a lot more of their promises than Joe Newman ever has. It's not the size of the bankroll. It's keeping your word.

[LightningMan]

The point about indulging in this instead of getting on with running a league is a good one.

However, I had a hypothetical spring to mind.

A grisly, public skewering of Joe Newman, held in front of as many arena operators as the PBL can coax to watch, potentially opens the hearts of these people. Possibly, this opens up new markets with better lease terms so that the PBL can expand to places they currently can't go because arenas are tired of Newman-like operations.

This assumes that said arena operators become comfortable with the level of investor the PBL brings forth. In this economy, it's a definite risk. It's an "everyone shoots 3s" strategy, as far as I'm concerned.

I can't even speculate as to how effective this might be. If anything, it does have the appearance of being misguided.
This gives me the chance to talk about the potential benefits to the PBL in doing this and reasons they might be doing it beyond revenge.
The cash. It'd be a nice revenue stream.
Doyle knows where the bones are buried. He was ABA COO. If there is any money left, I think he has as good a chance as any outsider to find it.
The license. Joe might be forced to give up the ABA name in all of this, which means that the PBL could gain access to the name and the famous ball.
The end of the Newman ABA. It almost always makes good business sense to drive your competition out of business.
A merger. Scare Newman's best members off and into your league or if they get control of the ABA itself, absorb the best and kick the rest to the curb.
This list doesn't mean I believe it's the wisest course of action for the PBL, but those are legitimate non-revenge reasons for pursuing this.

[SignGuyDino]

The only reason I can think of is trying to merge with the D-League with a rebranding.

Otherwise, nothing really to collect. Better odds with Powerball.

[TChasePBL]

Not sure I am even allowed to post on the PBL string(s). The reality is that NO ONE except a judge knows what will come of all of this, if anything. It is highly unlikely that a judge will award the license to the PBL as it is not the judges place to do so. Only the NBA can do that. Even if, a BIG if, a judge decides to award damages (unlikely) then the damages will most certainly be monetary.

I agree with others on this string, the PBL needs to worry about the PBL. They can be, and might already be, a very good league. But, they too, have lost teams, mucked the championship and have teams in trouble. But, they have leaders who truly care about what I call "mid market" (not minor league) basketball and will do well.

The ABA (also mid market) is not going away. We are going to thrive and continue to provide a low cost alternative to "mid market" basketball. We can co-exist. And will. Much to many "ballers" chagrin. At any rate, I will await the most assured attack, but can tell you, I am CONFIDENT that ABA will survive.

[a1sports]

Tony, dont you have the money to ask an attorney what all this means? short on funds? Let me help you.

1. A judge will not decide this, its a jury trial.

2. Monetary damages will be awarded, and since joe will have NONE and dick will have some but but not enough, then there is the ABA and its stock.
Any money that comes into the ABA will go to the PBL ( the judgment company) also control of the license wil go to the PBL ( the judgment company) Infact , joe probably didnt show you but he is suppose to be putting any money he receives for the ABA in an escrow untill the trial...that explains why he has been asking for money orders, but enough of that for now.
Also if you READ the license agreement, the NBA can pull it or the PBL can turn it back to them. On good information, the PBL and NBA have been communicating.

3. The PBL is worried about the PBL, thats why a good business move would be to rid the USA of the ABA and how it has ruined the landscape of minor league basketball..its a business move pure and simple. so yes, the PBL is worried about the PBL.

4. Your definition of mid market has no bearing, no one crowned you czar of basketball, you dont determine what is mid market and not. Arent there ABA teams located in villages that even yahoo maps cant find?? (Elmira NY,,,,pleaseeeee)

5. The PBL championship may have been "Mucked up" but the ABA championships are "F--k up". At least there are no outstanding bills from PBL championships,,,,see ABA championship cities and hotels past few years,,,shameful. also but not that important in this conversation...the PBL teams had real records and stats none of this "Power Joe who do I want to win rankings you played 6 games so your in"

you have to be careful Tony,.,stop assuming your talking to ABA owners here.

[zeke41]

I like that phrase - mid-market! Minor league sounds much more condescending.

Tony, I can certainly appreciate your optimism. It would be nice if you and that same optimism were in a league where the future of mid-market basketball was at the heart of every decision made. Many have tarried the same hopeful road you travel upon right now. While your hope seems genuine, you have 9 years of ABA history that illustrate that this hope of yours will be in vein. I Know A1 may have rubbed you the wrong way with his vehement posts, but you (and everyone else) needs to consider his cause, and what lies at the basis of these posts - painful, selfish ABA leadership that has scarred hundreds of similar hopefuls along the way.

The hope threaded within your posts here resemble the same hope within Tom Doyle in 2006. Now Doyle is 2 years deep in a new mid-market venture that, for the most part, has given genuine hope to others wishing to reshape the future of mid-market basketball. It seems to me that this venture us much more worthy of optimism...just my thoughts.

[Ken, Steelheads fan]

3. The PBL is worried about the PBL, thats why a good business move would be to rid the USA of the ABA and how it has ruined the landscape of minor league basketball..its a business move pure and simple. so yes, the PBL is worried about the PBL.


There will always be leagues to ruin the landscape of minor league basketball. The PBL is more delusional than I originally imagined. This isn't business. This is personal.

[Lou-Lou]

as everyone keeps saying. time will tell all. we shouldn't knock whats not known.

[zeke41]

Agreed, but...ummm...we are knocking what IS known, and the fact that the ABA has shown no accountability for the inadequate teams it has added over the last 9 years is no secret.

The leadership should be held accountable...period! They deserve what is coming!