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TAKE ME DOWN TO BASKETBALL CITY: CPBL SIGNS FIRST SPONSOR
Published September 17, 1998
The Collegiate Professional Basketball League (CPBL), which is scheduled to begin play in November '99, announced its first corporate sponsorship, Basketball City, which will serve as the official training facility of the CPBL. Although Basketball City does not own facilities in all of the CPBL's eight markets, teams based in Boston, NJ, N.Y. and Philadelphia will practice and train at Basketball City facilities. Although Basketball City's only operational property is located in N.Y., the company is close to finalizing lease agreements in Philadelphia and Boston. In addition, the CPBL announced that a second Basketball City property in N.Y., currently in the planning stages, could serve as home court for the CPBL's N.Y.-based team (CPBL). In Boston, Richard Kindleberger reports that Basketball City is "considering three sites for expansion," including the Charles River Park tennis club. Kindleberger: "With Basketball City interested in offering its arena as a practice site for visiting [NBA] teams, the tennis club's proximity to the Fleet Center is seen as having special appeal" (BOSTON GLOBE, 9/17). In Detroit, Becky Yerak reports the CPBL is looking for sponsors to pay $400,000 for naming rights for each team. The league has also hired an investment banker to raise $18M in venture capital "and plans to try to get TV exposure" (DETROIT NEWS, 9/17).