October 10, 1997 in Sports

Abl Players Offered Stock Option

Compiled From Wire Services
 
Tags:briefly

The American Basketball League is offering its players a personal stake in their future, announcing a stock option plan it says is unprecedented in sports history.

“Now every player in the ABL - from the lowest-paid to the highest-paid - can own stock in her own league … They’ll have … a chance to share in the league’s long-term success,” said ABL president Gary Cavalli.

About 10 percent of the league’s stock is reserved for the players. Under the plan, all current players will be granted options for a specific number of shares, with the options to be vested over a three-year period.

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