American Basketball Association (ABA) Joins in $200 Million Global Expansion
09 December 2009 - 6:00AM
Marketwired
The American Basketball Association (ABA) (PINKSHEETS: ABKB)
(www.abalive.com) today announced at a press conference in Las
Vegas, Nevada that it has joined with international financier Paul
Monozca to form ABA Global LLC to go global through a joint
venture.
The American Basketball Association (ABA) was acquired in 1976
by the NBA which saw its top four teams, the New York Knicks,
Golden State Warriors, LA Clippers and San Antonio Spurs absorbed
by the NBA.
The ABA league developed players such as Julius Erving, Moses
Malone, Dan Issel, and David Thompson to name a few.
In the year 2000, its co-founders, led by Joe Newman and Dick
Tinkham, bought back the rights from the NBA and started the league
again with an initial participation of ten teams. Today, after nine
years, the ABA has revived itself and boasts 60 teams across North
America.
The success of the ABA has caught the eye of Monozca. The
Singapore-based sports philanthropist is acquiring a majority stake
in the ABA and forming the global joint venture, ABA Global LLC,
which will be based in Las Vegas, Nev.
The ABA Global expansion will include key concessions accorded
to selected countries. The initiatives include a player exchange
program, participation in a China-based league, the ABA USA League
itself, and the ABA's World Basketball Cup in Atlanta in 2011.
"The ABA Global program is timely," said Monozca, vice-chairman
of ABA Global LLC. "When countries see their very own players and
teams play with the benchmark that is American basketball, it gives
basketball a whole new meaning. This is global basketball with
national pride worldwide."
Joe Newman, Chairman of ABA USA, said, "We already have Japanese
players and we have participation from a variety of countries.
China has the first international team playing in the U.S. League
with its Beijing Aoshen team, which boasts a 7 foot 3 center. The
team is adopted by the city of Los Angeles. A second team will be
from the Philippines and will be adopted by Daly City, California
and will showcase itself to the world soon. The third will be from
Korea."
The ABA Global entity will handle all commercial interests in
the ABA worldwide expansion encompassing media, brand and
merchandising, player and league management and global events.
Qualifying games will be held around various parts of the globe,
led by Europe and Asia.
The ABA is also holding its first Summit in Las Vegas to bring
together all key members of the ABA around the world. Past and
present ABA stars will also be present.
Contact: Matt Keating MZD Public Relations (317) 554-6216 Joe
Newman Founder/CEO ABA Headquarters (317) 844-7502
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