Premier Basketball League Issues Profit Sharing Checks To Teams
Published on September 16, 2008 under Premier Basketball League (PBL) News Release
(Chicago, IL)... The Premier Basketball League (PBL) announced a historic first for minor league basketball, as the league issued profit sharing checks to its member teams from the 2008 season.
The PBL business model is structured such that the league pays for travel, officials, and uniforms, providing ownership groups the best opportunity to turn a profit.
"Our business model is working, and the rewards of that model are starting to pay off," said PBL Chief Executive Officer Thomas E. Doyle.
"The days of pouring good money after bad has to come to an end in minor league sports," stated PBL Chairman of the Board Dr. Sev Hrywnak. "The owners in this league are our partners and treated as such. We do not want travel money or league fees from our owners, leagues that do are operating with a flawed 1970's business model.
In the next 2 -3 years, our teams should have an operating budget that comes from the league profit sharing model. This will keep down owner investment and more importantly keep ticket prices very affordable for the fan."
Wilmington Sea Dawgs Co-Owner Peter Gratale said, "As one of the original members of the PBL, I would like to thank Sev and Tom for the level of professionalism they have brought to minor league basketball. It was surprising enough to have our annual operating budget reduced by 40% due to the league sharing our expenses, but to receive a disbursement from the league for a share of sponsorship dollars generated by the league is beyond my expectations."
After a much heralded inaugural season, the PBL enters its second season of professional basketball in January 2009, with teams throughout the United States and Canada. Games will be viewed on national television as well as via webcasts.
Premier Basketball League Stories from September 16, 2008
- Knights update - Battle Creek Knights
- Premier Basketball League Issues Profit Sharing Checks To Teams - PBL
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