Dubai, United Arab Emirates Apr 25, 2021 (Issuewire.com) - The NBA will never go out of business because the owner of the teams is a “Who’s Who” of the mega-wealthy. However, despite excellent leadership by Adam Silver, the league is experiencing diminished interest and revenue support.
The NBA’s problems started with the China debacle. In October 2020, a minority owner of one of the NBA teams made negative comments about mainland China. The NBA had counted on revenue from China in their immediate and long-term plans, but China quickly responded to the comments by banning all games. When NBA Commissioner Adam Silver spoke to reporters before the 2020 NBA All-Star festivities, he confirmed the league would suffer “substantial” losses following the rift with China.
Another major problem the NBA currently faces is that smaller franchises have zero chance to win the championship. The league is all about superstars and no longer about individual teams. The dominance by only a few superstar players has destroyed the competitive nature of the game. The primary issue is that fans tend to lose interest in their home team when year after year there is minimal opportunity to win a championship. The result is that television ratings have dramatically declined, which also impacts merchandising sales.
There is no doubt that superstars are important in all sports. However, in the NBA, superstars are hurting, not helping the league. This is not their fault. It is due to the lack of competition from teams that do not have premiere players. Professional basketball has become a game in which the addition of one or two superstars immediately gives a team championship caliber. The problem is that there are only a handful of such superstars available.
In other sports, adding superstars helps, but that is not a guarantee of even a good season for a team. Stars are important, as they often energize the fans. However, lesser-known players often become fan favorites also because it is human nature for people to identify with and cheer for the underdog. Many fans are looking for the next talented player that will lead their team into contention. A good example occurred a few years ago when Jeremy Lin created “Linsanity” and took the sports world by storm. Despite such cases, smaller franchises are losing fan interest at alarming rates as they realize that the team has no chance at the championship. Simply making the playoffs is not comparable to becoming champions.
In both baseball and American football, the stacking of talent helps but does not assure a championship. Over the last several years, we have observed both football and baseball teams producing championship seasons with second-string players. Just a few years ago, for example, the non-starting quarterback, Nick Foles, brought the Philadelphia Eagles a Superbowl victory. In another example, the Kansas City Royals baseball team won the world series mostly with players almost nobody had heard of before the series. Championship basketball, on the other hand, is all about one or two exceptional players and the team dynasties that are created based on their talent.
In a noble effort during the past few years, the NBA has sought greater gender equality in the form of “The Women’s National Basketball Association” (WNBA). Sadly, it has been a losing proposition. Attendance at WNBA games has averaged (pre-COVID) under seven thousand attendees per game, and television audiences are minimal. The league which was formed on April 22, 1996, has always suffered from a lack of fan support. According to the NBA commissioner, The WNBA has lost money in each year of its existence.
The WNBA’s lack of fan success is disappointing since the league teams play exciting basketball and are fun to watch. The women are amazing athletes and the game they play is top tier. WNBA games are competitive, and the action is fast. The players hustle and go all out to win. Everything about the game is worth a fan’s viewing time.
Many people consider basketball the most exciting sport in the world. It is one of the few team sports where a team can be down by many points and then, with just a few minutes left, come back to win. In basketball, the game is truly not over until the last buzzer sounds.
Now let us get to some exciting breaking news. A new, elite professional basketball league is being formed (development stage), titled the “Power 3 Basketball League” (power3basketball.com & P3BL.com). This new league will not be subject to all the elements that are hurting the NBA. The Power 3 Basketball League is all about competition, having fun, winning, and giving the fans an experience, they will remember.
To make the game more interesting and competitive new rules are being included. For example, in addition to the three-point shot, there will be a four-point half-court shot and a seven-point full-court shot. Quarters will be 12.5 minutes instead of 15 minutes. Every new rule will make the game more fun to watch. The initial season will consist of 60 games for each team.
The make-up of the teams in this league is much different than in the NBA. First, the teams will field only three players on the court at any one time, not five, like the NBA. The teams will have a roster of only six players, made up of four men and two women.
Second, at all times at least one woman must be in action on the court. Finally, the public will be treated to what they have been missing by not watching the WNBA—great play by women. In the new league also, in addition to the three-point shot, there will be a four-point half-court shot and a seven-point full-court shot.
The new league will see more checking and hard action than in any NHL game. Women will win the hearts of fans with their physical play. Women will be competing against and alongside men in The Power Three Basketball League. Imagine the first time that a woman out rebounds a man, elbows flying, or that a woman dribbles past a man. Women are about to show the world that they are “ready to rumble,” as they say in the UFC.
The game will be thrilling, fast, and fun to watch. Initially, all teams will be in America, located in selected keys cities. Later there will be teams in Europe, Asia, UAE, Africa, Canada, and Mexico. Imagine an even faster game: 3 on 3 versus 5 on 5. If you have ever watched or played 3 on 3, it is exhausting, fast, and fun. To play 3 on 3 the players must be in phenomenal shape since they are constantly running.
There is an adage in the entertainment field that the public voicing of political comments is risky and can often turn off fans. For celebrities particularly, it is best to avoid publicly expressing political views. The reason is simple. One reason people watch sports and other entertainment are that it provides a release to get away from the real world. As a friend once told me, he always opens the sports page first because it chronicles achievements while the rest of the news is just depressing. The typical fan only cares about being entertained.
I have heard people comment that social and political activism by players in the NBA has hurt viewership. I do not believe that this is the dominant reason for the lower ratings, however. We are in a new world that is interested in social progress. As long as comments do not impact the actual playing of the game, people will listen and watch.
As an example of social progress toward gender equality, the proposed Power 3 league features top women athletes playing alongside men. The league policy also encourages players to voice their opinions, but when it’s time to play, then play and forget politics. Power 3 has no interest in controlling the personal, off-court life of its players.
The league will not rely on network television but will instead have its own streaming and strategic brand partnerships as well as joint ventures with various well-known streaming services. This does not preclude possible broadcasting of a 3-Power game of the week on traditional networks.
From the start of the new league, three video games will be made available for free to fans. Each season, new versions of the original games will be available to subscribers for a modest annual charge. Merchandising will be the new fashion. Campaigns with major sponsors will assure the adequate promotion of these games. There will be premium types of clothing and accessories that stand alone as a statement of the league’s popularity. It will be cool to wear Power 3 Basketball apparel.
The COVID pandemic has shown that ticket sales are not important, but any study of history would have already proved this. Pre-1970 professional sports teams made little money since the only revenue generator was ticket sales. Most athletes had to get off-season jobs just to survive. The valuation of teams was very low for this same reason. In 1961, Franklin Mieuli bought the Philadelphia Warriors for 850,000 dollars. The owner later moved to San Francisco, and the team was sold in 1986 for 20 million dollars. Charlie Finley sold the MLB Oakland Athletics for 12.7 million dollars in 1980. Things changed as profit centers beyond ticket sales were realized and were scaled. These same teams today are valued in the billions of dollars.
Power 3 has multiple revenue drivers, including sponsorships, advertising, strategic partnerships, gaming, pay-for-view super events in world markets, apps, blockchain, etc. With the Power 3 Basketball League, you have a combination of the UFC, WWE, and the NBA all wrapped into one.
Unlike soccer and the NHL, which are both enormously popular, in Power 3 basketball, the game is never over until it's over. For a team to come from 20 points behind with two minutes left will happen regularly. The rally and comeback aspect of the game makes it perfect for both video game adoption.
The video game industry cannot be ignored as a source of revenue for the Power 3 league. On a global basis, video game earnings are more than the North American sports business and global movie business combined (estimated at 205 billion for 2021 and growing).
Players in The Power 3 Basketball League will be of top NBA caliber. The league will compete with the NBA to sign top college recruits, recently retired players, and current NBA as well as WNBA players. The goal is to become the dominant basketball league in the world over the next ten years.
As founder of The Power 3 Basketball League, our team is actively recruiting major financial partners in order to be able to compete with the NBA. A team in the NBA sells for more than two billion USD. Raising the financing will be easy because Power 3 Basketball is such a promising venture and in step with our modern world. With so many new stock market billionaires in the last couple of years, seed money is easy to find. Most investors will be people who have made a new fortune and are now looking to have some fun. The cost of operating the league with only six people on each team and other factors will be minimal.
Power 3 will launch initially with ten teams. A total of five hundred million dollars will initially be raised. Each team will require a 50 million dollar buy-in by the local team owner. Of that money, 25 million will remain at the team level and 25 million will go to the league level. In addition, it is estimated that approximately 10 million dollars in organizational costs will be spent up to the launch date.
I anticipate that Power 3 Basketball will become the most exciting sport to watch in the world. The league will own 50 percent of each team to avoid the stacking of Superstars that has hurt the NBA. The goal is to create a league in which all teams have a chance to win the championship. To assure integrity, competitiveness, and balance, the League managers will not be directly involved in the operation of local teams.
Experienced leaders are now be recruited to run and oversee the league. The goal of management will be to give the fanbase the best there is to offer. Management will be people who understand the balance of entertainment and running a business. The goal is to develop a league that has teams who care about the fans and its players. To have a league that is fun to watch. Teams that are fast, competitive, and exciting are the definition of Power 3. A league where players have a chance to be entertainers, influencers, and personalities as well as superior athletes. With all ventures, great leadership is a prerequisite to success. The Power Three League is embracing a top-down approach to excellence.
The league will have its own in-house apps and media streaming. All games can be seen live for free, except for international super events which will be pay-per-view and include concerts and other entertainment. Such events will be at world locations, such as Tiananmen Square, The Great Wall, The floor of the Grand Canyon, The Rome Colosseum, a luxury yacht, and other major venues.
Imagine a team from Africa, China, London, Mexico City, or The UAE as an example of a real-world league. The Power 3 Basketball League is the beginning of a new dynasty in the world of sport and competition. The fun has only begun, and the new league will be in full operation by July of 2023.
--John Probandt, Founder
Media Contact
john probandt info@power3basketball.com +971562140688 133 Sheikh Zayed Road Dubai UAE 23335 http://power3basketballleague.com
