Bill Hambrecht, Michael Huyghue Discuss Launch Of Upstart UFL
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Huyghue Discusses Upcoming Launch Of
UFL During Appearance On Fox Business |
UFL Founder Bill Hambrecht and Commissioner Michael Huyghue appeared on Fox Business’ “Money for Breakfast” this morning to discuss the launch of the new league. The league, which is scheduled to debut in August, will consist of six independent franchises in different markets, and Hambrecht said, “Each franchise will be financed by local people, both private investors and public investors.” Huyghue added each club is “run by a chairman, and he has five or six or seven local independent investors with him, and they’re funding about $60(M) to operate these franchises.” Hambrecht: “There was a great attraction to having a football franchise owned by the public and by the fans and by the people who live in the city where the franchise is located. So my world of finance and IPOs and the football world came together.” Huyghue said of starting the league and how it will be run, “Clearly the economy is in a tough time, but there are a number of people that are looking for opportunity. Our league is one of innovation. We are finding people that are excited about football in their markets that don't have NFL franchises to support.” Hambrecht: “The NFL has done a lot of things really well. They have a great product … but they have not expanded into some of the major growth areas of the (U.S.). I mean, it’s amazing when you think about it that (L.A.) does not have its own franchise nor Las Vegas.” Huyghue noted the league will have an announcement “around Super Bowl week announcing the six owners and general managers and presidents” (“Money for Breakfast,” Fox Business, 1/5).
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