USBL - New Press Release
Tuesday February 17, 11:13 am Eastern Time
Company Press Release
United States Basketball League Makes Stock Market and
Sports a Winning Combination
DENVER--(BUSINESS WIRE)--Feb. 17, 1998--A little over a year ago, United States
Basketball League, Inc., (OTC: BB: USBL) an east coast-based professional basketball league,
took the concept of the stock market and combined it with spectator sports.
The concept was not altogether new, as shares of the Boston Celtics (NYSE: BOS - news) have
traded and been followed by Wall Street for years. But the USBL took the concept quite a bit
further by making the entire league a publicly traded enterprise. Because it is national, the league
may offer even more growth potential than an individual team
The success of the USBL has been demonstrated by 13 successful seasons. During these 13 years,
the USBL has produced more than 113 NBA players, including greats such as Muggsy Bogues,
Chris Childs, Mario Elie, Anthony Mason, and Charlie Ward. Other USBL players went on to
various leagues around the world. The league also brings in high profile coaching talent like NBA
great Rick Barry, and Pat Knight, son of Indiana University coaching phenomenon Bobby Knight.
With games played only during the summer months, the league does not compete with the NBA but
functions as a farm league. If the success of the baseball farm league system is any indicator, the
USBL could be looking at major profits over the next few years. The cost of a new USBL team has
risen from $100,000 to $300,000 in only a couple of years. The price is expected to jump to
$500,000 by the year 2000. The league currently has 12 teams. At least 60 more are planned. The
league will begin its aggressive expansion campaign later this year, when a Western Division will be
added.
Investors looking to discover opportunities before Wall Street takes notice are seriously looking at
the USBL. The league is featured in the February, 1998 edition of Individual Investor magazine
(NASDAQ: INDI - news) and shares of the company have been recommended as a buy in at least
three newsletters. A Wall Street analyst at M.H. Meyerson and Co. recently rated the stock as a
solid buy. More information about the nation's only publicly traded sports league can be found at
usbl.com. Interested investors are invited to join the USBL email chat group by sending
a subscription notice to USBL@wallstreetwest.com.
Contact:
Diversified Marketing Concepts, LLC, Arvada, Colo.
Daryn Fleming, 303-465-6097 |
