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ABL, PART II: LEAGUE ANNOUNCES STOCK OPTION PLAN FOR PLAYERS
Published October 10, 1997
The ABL will offer a stock option program that will allow its players to own around 10% of the league. ABL CEO Gary Cavalli said that all current players will be granted options that will vest over a three-year period. Options will be granted based on contributions to the team and league, on and off the court. New players entering the ABL will also receive options. At the end of each season, about half of the players will receive additional performance- based grants (ABL). Cavalli said that the ABL has 10 million shares of stock, which have risen as high as $2.35 per share (Dwain Price, FT. WORTH STAR-TELEGRAM, 10/10). MORE ABL NEWS: Cavalli said season-ticket sales for the league have increased from 8-9,000 last year to more than 13,000 (THE DAILY)....USA TODAY's Valerie Lister reported that ten of the 13 "top collegiate players" signed with the ABL over the offseason. League sponsor Reebok, which will outfit all nine teams, will promote the ABL in print and TV ads (USA TODAY, 10/10)....Saudia Roundtree, the '96 college player of the year, has signed a three-year contract to remain with the Atlanta Glory (WASHINGTON POST, 10/10). NATIONAL AD: An ABL ad supplement appears in USA TODAY with the "Real Basketball" slogan on the cover. League sponsors Reebok and Hartford-based Phoenix Home Life Mutual Insurance Co. took out ads (USA TODAY, 10/10).