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Chicago, U.S.A. — The Premier Basketball League held its annual owners’ meeting at Gibsons Bar & Steakhouse in downtown Chicago with the theme of “continuing forward with momentum,” as the league approaches the 2012-2013 upcoming season.
“This is the year where owners take on a major role, both financial and operational in the Premier Basketball League,” stated Tom McGinn, Vice President of Operations. “Dr. Hrywnak, the league’s owner has kept his word with the PBL having paid 100% of operational league costs for the first five years, which included team travel for the first two years, uniforms, officials and team venue payments. The new structure going forward includes league dues which will be required from all teams,” continued McGinn.
Additional changes and improvements include a performance guarantee deposit of $20,000 per team that is 100% refundable at the conclusion of the season.
“To truly be classified as a professional league we have now required owners to step up,” commented Brijesh Desai, PBL’s Chief Financial Officer. PBL Team Owners voted to establish an executive committee made up of five team owners. Additionally it was voted to keep the current regular season schedule at twenty games plus the league’s playoffs. “In this economy you have to be careful not to place unnecessary financial stress on the fans by having too many games or by playing during the week when kids have school the next day,” explained John Hollinsworth, PBL’s Director of Sales & Marketing.
The executive committee reported over forty applications from difference cities and markets with only six qualifying to have more due diligence done. “We always get applications from American Basketball Association (ABA) teams but very few qualify financially,” continued PBL CFO Brijesh Desai. Hopefully the better applicants will prove to be real during their due diligence process.
“The PBL will begin its sixth season tipping off on December 31, 2012 and the PBL Championship series will conclude around the middle of April 2013. Our fans will still be able to view PBL games on SportsTV via the internet or their local cable provider,” concluded PBL VP Operations Tom McGinn.
For more information please visit www.ThePBL.com