League meetings held in Chicago

[sportsfan27]

I see the ABA held it's annual "How many suckers and con artists can we bring together in one room" meetings.

250 New teams have been granted franchise rights, of which 5 will actually play a game and 2 will limp through the season to it's finish.

Among the newest franchises are:

A fishing town in the Yukon territory, the Miccosukee tribe in the Florida Everglades, PS 387 in the Bronks NY and London England.

Mr. Newman, co creator and president of the new look ABA was very encouraged by the new teams entering the league stating. "At this rate I'm getting a bigger boat......oh and the basketball talent in these new markets is going to help this league grow into one of the strongest basketball leagues in the world." The statement was almost said entirely with a straight face.

When asked how the teams would be able to afford the travel to these far off destinations Mr. Newman responded, "I'm sure the owners have a plan, they would'nt try to run a team without a plan, these are first rate business men. I almost met one of them here at the meetings..........now look what you've made me do, I lost my place.......$10,000, $20,000, $30,000...........

The meetings ended with Mr. Newman handing out a disconnected phone number and promissing to do everything in the leagues power to spend their league fee.......for those who didn't get get their franchise for free because they couldn't afford the league fee.

[joedirt]

I'm not sure if you were at the meeting, but the news there was interesting to say the least. There was a presentation from Brax(sic?) Capital. They are apperently infusing the league with quite a lot of cash and helping the ABA go public as part of a shell offering. I was not impressed at all with the vast majority of the owners. They all seemed like shmucks with no business expirience. Some teams lost over a million dollars in one year of operating.

Number I've run would indicate it would be nearly impossible to run a profitable ABA team currently with a budget over $300k. So the fact that they lost more than 3 times that says something.

I'm very curious to see what happens this year. They also have a lot of high profile B-list celebs investing in the league.... it's gonna be the surreal life on a court I expect.

[justbballin]

I'm not sure if you were at the meeting, but the news there was interesting to say the least. There was a presentation from Brax(sic?) Capital. They are apperently infusing the league with quite a lot of cash and helping the ABA go public as part of a shell offering. I was not impressed at all with the vast majority of the owners. They all seemed like shmucks with no business expirience. Some teams lost over a million dollars in one year of operating.

Number I've run would indicate it would be nearly impossible to run a profitable ABA team currently with a budget over $300k. So the fact that they lost more than 3 times that says something.

I'm very curious to see what happens this year. They also have a lot of high profile B-list celebs investing in the league.... it's gonna be the surreal life on a court I expect.

I heard about the meeting and the high level presentation. But then again, I have heard every year about promises of going public and partnerships. Let's see.... Headgear, Iphone2, Free Cell phone thing (Yuiko? I think), Charter bus program, insurance company, entertainment company, Joe Newman People First Selling, Starz in Motion, Alleyoop apparel, Steve Madden shoes, Jay Z Rocawear, Nelly Applebottom, Corona Mickey Mouse impersonations (who claims to be Mickey Rooney son), Dave Rose entertainment/use car salesman, fired, hired, fired, and hired again, and the grandaddy of all..... the BOUNCE program, Bringing Opportunity to Underpriviledge Neighbourhoods ect ect. NONE OF THEM HAVE EVER WORKED!

[sportsfan27]

If there isTRUELY an infusion of cash that will create a stable enviroment for all teams, than good for the ABA. But I'm afraid that this story has been going around for some time. There needs to be accountability. the owners and the league, in all minor league sports, need to realize that begining a venture has severe ramifications if it fails, (employees, players, vendors, venues). I for one would like to see sport programs in every citys, but without a proper business plan and a lot of cash available, the franchise should not be started in the first place.