Monday, February 9, 2009

New Football League Launches

New Football League Launches : "
It's the most improbable story in the sports business industry so far this year.

While sports leagues try to figure out exactly how they're going to deal with this economic downturn, a new sports league is being announced today.

It's called the United Football League and its season, dubbed 'UFL Premiere,' is scheduled to kick off in October with four teams that will play a six-game season in at least seven cities.

Led by former NFL executive and agent Michael Huyghue as commissioner and prominent sports marketer Frank Vuono as chief operating officer, the season has been financed through $30 million of capital provided by a group of investors including investment banker Bill Hambrecht, Google [GOOG 378.10 6.82 ( 1.84%) ] senior vice president Tim Armstrong and Paul Pelosi, the husband of the Speaker of the House, Nancy Pelosi.

The cities where the teams will play are: Las Vegas/Los Angeles, New York/Hartford, Orlando and San Francisco/Sacramento. Players are expected to be signed, at what the league says will be salaries higher than NFL minimums, starting this summer. They will be trained and housed in Casa Grande, Arizona, where the league says a $20 million training complex is being constructed."