NBA Rumor: Champions League

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The Champions League, a new league advertising former NBA stars and executives, is rumored to have a class-action lawsuit served against them. The league, which announced it would be selling team ownership to fans for small nominal fees, doesn’t seem to actually be playing games yet and the people who did buy into the league are rumored to be banding together. According to a source close to the situation, Mark Geragos, a big-time criminal defense lawyer who specializes in class-action lawsuits, is close to forming the class-action suit against the Champions League based on the misinformation. According to the Champions League site, it has over 286 investors and over $126,000.00 dollars invested.

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Behold The Champions League, a non-NBA affiliated venture where the league’s chairman and CEO, Carl George, is hoping to provide family-friendly and affordable entertainment during the NBA’s downtime. The vision, expected to be announced formally today, looks like this. Sixteen teams to begin competing in the summer of 2016, with a strong preference for players who have competed in the NBA during the last three years. According to George, the New York team is already fully formed and includes former NBA players Al Harrington, Rasheed Wallace and Maurice Ager. Teams in Boston, Philadelphia, Washington, Miami, Orlando, Atlanta and Cleveland are up next, with the goal to employ approximately 250 players in all (170 on teams, others as player-coaches or in other roles). Each team would have two former NBA All-stars on the roster and a Hall of Famer in the front office. George said that 60 players have committed to this point, with many more “in the pipeline” while the subsequent teams are rolled out.

Approximately 30 games to be played in July and August, with 10 charity/marketing events in non-NBA markets during the non-season months also included as part of a player’s compensation package. On average, George said, players would make approximately $200,000 per year (for 80 or 90 days of work) in their pay structure if they take part in both the season and the charity events. The strategy to attract the best-of-the-rest players is simple: provide a far better payday than the NBA’s Development League (top tier approximately $25,000) while offering a more-comfortable alternative to the overseas route that can certainly lead to more money but that, inevitably, requires a life-changing relocation.

“We are committed to being well capitalized, and all that precedes the play,” said George, who describes his background as “building software companies” and whose bio cites 25 years of “business development history” that includes involvement with four businesses that were purchased by Fortune 100 companies. “You see a lot of people launch (these kinds of leagues), and then run out of (financial) runway. We said, ‘Let’s build the runway, and let’s make sure it’s there — take a day and stop and look at it and smile about it — and then let’s start landing planes on it.’ That’s the sequence.”
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June 25, 2022 | 8:58 pm EDT Update
“Listen we still run that franchise [Magic]. If they wanna sell it to us, DeVos family, we’re ready to go right now,” O’Neal said on The Big Podcast. “This message go out to the DeVos family, if you’re ready to sell Orlando Magic, sell it to somebody who’s gonna take it to the next level, that’s us. D[ennis] Scott and then, D Scott can pick everybody else. Smart people combined with common sense people and people that’s been there before, you can’t go wrong.”