SOURCE: American Basketball Association

American Basketball Association

American Basketball Association

December 08, 2009 14:00 ET

American Basketball Association (ABA) Joins in $200 Million Global Expansion

LAS VEGAS, NV--(Marketwire - December 8, 2009) - The American Basketball Association (ABA) (PINKSHEETS: ABKB) ( today announced at a press conference in Las Vegas, Nevada that it has joined with international financier Paul Monozca to form ABA Global LLC to go global through a joint venture.

The American Basketball Association (ABA) was acquired in 1976 by the NBA which saw its top four teams, the New York Knicks, Golden State Warriors, LA Clippers and San Antonio Spurs absorbed by the NBA.

The ABA league developed players such as Julius Erving, Moses Malone, Dan Issel, and David Thompson to name a few.

In the year 2000, its co-founders, led by Joe Newman and Dick Tinkham, bought back the rights from the NBA and started the league again with an initial participation of ten teams. Today, after nine years, the ABA has revived itself and boasts 60 teams across North America.

The success of the ABA has caught the eye of Monozca. The Singapore-based sports philanthropist is acquiring a majority stake in the ABA and forming the global joint venture, ABA Global LLC, which will be based in Las Vegas, Nev.

The ABA Global expansion will include key concessions accorded to selected countries. The initiatives include a player exchange program, participation in a China-based league, the ABA USA League itself, and the ABA's World Basketball Cup in Atlanta in 2011.

"The ABA Global program is timely," said Monozca, vice-chairman of ABA Global LLC. "When countries see their very own players and teams play with the benchmark that is American basketball, it gives basketball a whole new meaning. This is global basketball with national pride worldwide."

Joe Newman, Chairman of ABA USA, said, "We already have Japanese players and we have participation from a variety of countries. China has the first international team playing in the U.S. League with its Beijing Aoshen team, which boasts a 7 foot 3 center. The team is adopted by the city of Los Angeles. A second team will be from the Philippines and will be adopted by Daly City, California and will showcase itself to the world soon. The third will be from Korea."

The ABA Global entity will handle all commercial interests in the ABA worldwide expansion encompassing media, brand and merchandising, player and league management and global events. Qualifying games will be held around various parts of the globe, led by Europe and Asia.

The ABA is also holding its first Summit in Las Vegas to bring together all key members of the ABA around the world. Past and present ABA stars will also be present.

Contact Information

  • Contact:

    Matt Keating
    MZD Public Relations
    (317) 554-6216

    Joe Newman
    ABA Headquarters
    (317) 844-7502