DC-based ProSport Development, Inc. announced plans to
develop a new pro basketball league, which will serve as an
"unaffiliated, minor league" for the NBA by recruiting and
signing players directly out of high school. The National Rookie
League (NRL) will be limited to players under 24 and will
concentrate on "developing players for an NBA career." No
athlete will be permitted to play in the league for more than
four years, and a high school diploma is the only academic
requirement. ProSport President Bruce Stern: "The NRL will be
substantially similar to the minor league systems operated for
Major League Baseball and the National Hockey League." Athletes
signing with the NRL will be guaranteed a two-year contract worth
"in excess" of $55,000 annually. That figure includes a base
salary, signing bonus, insurance coverage, housing and $7,500 a
year in deferred pay which can only be used for later
"educational purposes." The league is scheduled to begin play in
'97 with eight franchises -- all initially owned by ProSport --
but with a long-term goal of "at least" one-third minority
ownership. Targeted cities include: Baltimore, Brooklyn,
Buffalo, Jacksonville, Memphis, Newark, Pittsburgh and Tampa.
Financing for ProSport is being arranged by Boston banking firm
Pegasus Ventures. The NRL also has a web site located at
http://www.webcom.com/nrl (ProSport).
