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Volume 24 No. 155
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          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).