Maybe, Just Maybe..... ABA to clean House

[BasketballUSA]

On reliable sources from California. CEO of ABA to be out, honesty and integrity to be restored with new cash and management group from California taking over. Priority of new ownership group>> remove teams that do not put up $ 100,000 bond in 7 days among other major changes. Goal to establish 20 solid teams ASAP and move forward. This information is based on someone close to the attorneys representing the new managment group.

[Fells]

When would these changes be taking place? Do the current owners know about this? Also, would the bond be required right away for the current teams, or is there some sort of grace period?

[ABA06er]

Once again a totally false report , the ABA is expanding to over 100 teams not decreasing to 20 , could you imagine the law suits from current and expansion teams if they were just told "hey we only want 20 teams now, have a good day" I have inside sources with the ABA and its totally bogus , and it has no validity to the claims beacuse they are 100% false and made up. If outlandish bogus lies keep popping up on here how much longer will this site have any credibility ?

Can something be done by the site administrator to stop such bogus lies instead of worrying about someone calling someone "dumb" ?

[Pounder]

Since this board can't/doesn't do anything about Joe Newman's bogus lies, why should this be any different?

I'm kind of hoping a collection of scoundrels and incompetents go after the main incompetent scoundrel. It's good reading.

BTW, in all likelihood, what I tend to glean from this: there's 20 owners who are about to find out that Joe Newman won't sell this cash cow for its true value (something under 7 digits IMO), so they'll leave the league and spin off something new, Newman will attempt to undercut them by planting bogus ABA franchises in the same markets, half of the 20 will find out that their cost model stinks and fold before the new league starts, so it will be up to the other 10 to figure out if travel costs too much to continue. Not likely. Sad, innit?

[BasketballUSA]

Th ABA will re-organize, the above post was probably made by a relative of Joe Neuman or someone from a market where they will be terminated shortly.
The attorneys involved in the restructure are a top 10 firm in California. The Private placement memorandum that was offered has been filled, therefore new leadership will be taking over shortly. The PPM is public knowledge, so please consult with a licensed broker to check for yourself. From what I was told, the changes will happen and happen at a fast rate. The new owners are business savy, they would not get involved unless they could re-organize and stop the insanity that was going on. On my observations alone, there are about 20 -25 teams that are financially stable, the rest have no business being in this business. As a independent sports writer I would not write something if the lead was not credible.

[preeths]

Once again a totally false report , the ABA is expanding to over 100 teams not decreasing to 20 , could you imagine the law suits from current and expansion teams if they were just told "hey we only want 20 teams now, have a good day" I have inside sources with the ABA and its totally bogus , and it has no validity to the claims beacuse they are 100% false and made up. If outlandish bogus lies keep popping up on here how much longer will this site have any credibility ?

This is an open forum, and the thoughts and opinions posted here are not subject to the same journalistic standards that an article on the main site is. Each poster puts his or her own credibility at stake when posting, me included. Having said that, we do try to call out obviously false rumors or propaganda when we see it. But you should know that there is no way to verify everything written on an open forum. Have you ever been to a newspaper site with a message board?

We have also seen reports of at least a portion of the ABA being sold, with some teams not currently living up to stated league standards being lost in the process. Could that bring the league down to 20 teams? I don't know, maybe. That removes the post from the "obviously false" category.

Can something be done by the site administrator to stop such bogus lies instead of worrying about someone calling someone "dumb" ?

You will obey the rules of the board or you will leave. That is not open to discussion. If you have any further questions about that, you can contact me through the "Contact OSC" link in the left menu.

On to the subject at hand, I agree with you that if new ownership took over and suddenly instituted new standards for this season that more than half the teams could not live with, that it would invite lawsuits from the affected. On the other hand and as mentioned above, if a new regime (remember this is just speculation) enforced the existing rules (i.e. functioning websites, stats, arena size, etc.) and lost teams because of it, the teams probably would not be able to sue successfully. Either way, the ABA would certainly lose teams.

[Pounder]

Wait a minute.

http://vcexperts.com/vce/library/encyclopedia/glossary_view.asp?glossary_id=91

I'm a layman AT BEST with this.

If all you're doing is filing a PPM, if I read this correctly, congratulations, you have a business plan. What does that do to oust Joe Newman?

I am going under a major assumption: not necessarily that what Joe does is legal, but that he's been at this long enough such that he understands how to protect himself, and AT LEAST delay and deflect legal action by however he does business. I have an extremely hard time believing that someone hasn't attempted to ditch him before. Yes, I know what happens with assumptions.

My suspicion, or hunch: Newman's manner of making money is selling new franchises. If he gives up the ABA, he loses that. I don't think 20 owners threatening to leave will make him change his mind; he'll wish them well, then sell franchises in those markets to dilute the product out of spite.

[BreakersFan]

I am going under a major assumption: not necessarily that what Joe does is legal, but that he's been at this long enough such that he understands how to protect himself, and AT LEAST delay and deflect legal action by however he does business. I have an extremely hard time believing that someone hasn't attempted to ditch him before. Yes, I know what happens with assumptions.


My suspicion, or hunch: Newman's manner of making money is selling new franchises. If he gives up the ABA, he loses that. I don't think 20 owners threatening to leave will make him change his mind; he'll wish them well, then sell franchises in those markets to dilute the product out of spite.



Joe is not doing anything illegal. Unethical, perhaps, but not illegal. It's not against the law to sell a terrible product/service to a poor business person who doesn't do any shopping around or due dilligence. This is neither suspicion or hunch. It's the ABA's MO. Again, there will always be another sucker to give him $10K.

[Fells]

http://www.insideindianabusiness.com/newsitem.asp?ID=20386

This is one of the articles saying the ABA may be acquired. There isn't any mention of Uncle Joe, or what would be done with the league.

[ABARedWhiteBlue]

ABA06er-
The 100 team dream has been touted for over two years.

The problem - simply in math terms - is that in order to expand to 100 teams, the league would need to have 100 viable markets actually do all the legwork and financial investment to able to stay active.

Thus far, the league has been unable to complete one full season schedule in any year. This year, they even admitted as much by creating a season schedule 'with an asterisk' - admitting that there was no way to create a workable schedule for the 52 teams it had this year.

Regardless of the reasons why they couldn't make one (which have been discussed ad nauseum in other threads), how can anyone with a straight face expect a 100-team league to come to fruition? Nothing in the ABA's past - the early season defections, burned bridges in markets, etc. - leads a rational person to think 100 teams is possible... under the current leadership and business plan.

However, should a new group come in and take over - making the absolutly necessary and long overdue changes this league desparately needs - the ABA can be shrunk down to a smaller, yet stronger league of financially and organizationally solid franchises in one or two regions of the country. Even 20 teams is probably high, but better than 40 or more question marks.

Establish a strong foundation to build upon, and do it in small steps. Then, see where the future leads.

Might there be lawsuits? Possibly. But the season could be modified somehow (a first half/second half scenario, or some other scheduling change - the league has seen plenty of them over the years) and then then real changes could be put in place in the off-season. If the current teams can't meet the requirements, they're out...

[nksports]

http://www.insideindianabusiness.com/newsitem.asp?ID=20386

This is one of the articles saying the ABA may be acquired. There isn't any mention of Uncle Joe, or what would be done with the league.

Souvall Page & Co. (SVAP.OB) is selling for .10 a share, so you can own a million shares for $100,000. In other words, it's not the strongest company in the world. The USBL at least trades for .95 a share (down 25% since the start of 2006, but up from its year low of .70).

According to a profile on Yahoo "Souvall-Page and Company, Inc. does not have significant operations. Previously, the company intended to create a national and international marketing network for the commercial-investment real estate community. It seeks out a business or company to acquire by merger, reorganization, or acquisition. The company is based in Salt Lake City, Utah."

strange

[gonzo13]

Does the 100 team dream mean 100 teams at the beginning of a season or the end of one?

[psbf]

The more I think about it, the harder it is for me to imagine a league actually holding 100 teams together. Why not something more realistic like 90 or 80.

[nksports]

The best you could do is operate a confederation of 10 regional leagues of 10 teams each. Sort of like Minor League Baseball.