ABL BRINGS ON TWO INVESTORS AND RECEIVES $6M IN NEW CAPITAL

          Two investors have bought into the ABL for a total of
     $6M, "wiping out" the women's basketball league's opening-
     season losses and acquiring "substantial" equity in the
     league, according to Jody Meacham in the SAN JOSE MERCURY
     NEWS.  CA-based Silicon Valley Investors and CT-based
     Phoenix Home Life Mutual Insurance Co. acquired a combined
     stake of "almost half" of the league, as well as options to
     purchase team operating rights for the San Jose and New
     England franchises for an additional $3M each.  ABL CEO Gary
     Cavalli, who said the league had operating losses of about
     $4M in its first season: "This gives us the foundation we
     need to go forward with confidence.  It gives us the war
     chest to go after top players and market the league
     effectively."  Cavalli added that negotiations for operating
     rights in Seattle, Columbus and Denver are in "various
     stages" and are expected to be sold this year, with a fee of
     a $2.5M investment per team and a $500,000 investment in the
     league (SAN JOSE MERCURY NEWS, 4/24).