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How to Start an NBA Franchise
How to Start an NBA Franchise
10 s17,097 views
NBA franchise is not as readily available as common franchises in the market as they are rarely available and undergo a bidding war as soon as stocks appear on the market.
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NBA is more out of reach compared to other franchises available and therefore requires a higher investment plan and financial standing.This type of franchise is not for those with a limited amount of capital for franchise as the bidding of the NBA franchise ranges from an initial 300 Million US dollars to up to 600 Million US dollars.
To apply for this type of franchise it is important to remember that one should at least be well versed with the basics of management and finance. Another important factor is passion for basketball. The whole franchise revolves around the game and the success of the franchise is dependent upon it, therefore it would be wise to brush up on your basketball skills and knowledge before engaging in such a franchise. There is a huge amount of money at stake in this kind of rare investment franchise, therefore it will be wise to utilize it to its full extent and make sure it reaches success. You may be lucky enough to apply for financial aid or loans but this is rare considering the amount involved in making a bid for the franchise. Therefore make every penny count and brush up on those skills.
There are several ways to go about educating yourself before application to the franchise. First you may consider attending seminars or workshops to get hands on experience on what it is like to handle these kinds of investments and establish a firm knowledge on the game of basketball. Considering that you may very well become a NBA franchise owner, it is wise to know that knowledge and experience with regards to the ins and outs of the basketball game are crucial to your success as the entire franchise revolves around this fact.
The NBA franchise utilizes a unique and effective business model that no longer requires huge sums of initial financial investments to make the cut. The Basketball Association of America was founded originally in 1946 with 11 franchises namely the Washington Capitols, Detroit Falcons, Chicago Stags, Boston Celtics, Cleveland Rebels, St. Louis Bombers, New York Knickerbockers, Toronto Huskies, Pittsburgh Ironmen, Philadelphia Warriors, and Providence Steamrollers. It has since garnered several more franchises throughout the years of its existence and every franchise has its own specific market value depending on the team, its players, the area they represent and their duration within the NBA. Considering this you should also bear in mind that there are many options to consider when starting an NBA franchise and you may decide on the type of franchise you prefer depending on the interest you possess as well as the funds you have available on hand to bid for them.
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10 sTrevor Adderley said on April 21, 2011Nassau, The Bahamas
Occupation: Student @ The College Of The Bahamas
Question: I’ve had ideas and aspirations of becoming a franchise owner and having a Basketball franchise here in the Carribean. What’s your take on it? I think it would be great for the Carribean.. My major is Economics and Finance but i can always take a Management course to better assist me in pursuing my goal. Basketball is my passion as well so that’s a plus as well.Dexter Duvalier said on May 2, 2011Student at Bahamas technical vocational institute, listen I think this actually a good idea,its going to take time and hard work but in the end I feel like if we really get this off the ground the rewards would be endless. Its good for you and your passion with basket ball. Consider me on boardJames Branstetter said on April 4, 2012Live in Topeka Kansas United States. I have and Idea about an NBA Franchise That hires local players. With The right coaching I feel these players could be just as good as the pros. Plus that would keep the tickets and costs down for the fans.Trent White said on May 22, 2013I’ve had an idea and interest of one day owning my own NBA franchise in Virginia, since research states that it is a financially capable and stable city to host a sports team. Not to mention that the population is 1 million people, thus creating a very valuable return on investment. I will graduate with my Bachelors degree in sports management and business administration and plan on attending graduate school to work towards my MBA with a focus in finance and management. Even though I am only 21 I look forward to this challenge in the future with others who are willing to help and that have the passion for basketball just like myself!jameel brown said on September 3, 2013i live in jackson mississippi i have an interest of 1 day owning my own nba franchise as a citizen of my city and of the low economic status in my city plus the love i have for basketball i’m willing to learn every that would increase my chances of working towards my successConstantinos Mavrou said on September 10, 2015Ayia Napa-Cyprus-Europe. Is it possible to open an NBA STORE in Cyprus?Bevern Paul said on September 2, 2016I am interest in opening a Franchise in Alberta Canadakevin “Disco” wizard! Ric said on January 25, 2017Hello to whom. Ever it may concern my name is kevin richadson, and i would like to establish a nba franchise in which any city that would be interested in an nba team. My first preference would be pittsburgh, pa. And i was los angeles standout in high school, in compton, ca at Dominguez high school, and to colleges such as la city college where i was the leading scorer and 1st team all conference,1984-85. and further went on attend the university of wyoming and played with standouts eric leckner an fennis Dembo. So i feel and know that i have experience and love for the game to succeed and become a great, nba owner.Wendell Burr said on March 18, 2017I want to bring a NBA team back to The city of Baltimore I was not around during the bullets era so I want to embark on this adventure and I know I can form a team to bring multiple championships to Charm CityWilliam D. Simmons said on July 24, 2018In 10-15 years I will bring a Pro NBA team to South Carolina. But I am also thinking of starting my own league though composed of smaller markets until they are ready for an NBA status team. I am looking to put together a board as well. This would mean smaller buying or no buy-in. but we could test all of the theories everyone has. AS far as media coverage. you don’t need TV Deals when you can navigate platforms. (All the above fields are required.)
How to Start an NBA Franchise
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