October 10, 1997 in Sports

Abl Players Offered Stock Option

Compiled From Wire Services

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.

Get stories like this in a free daily email

Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus