Overtime Elite, a newly-formed basketball league, will compete with college teams and the NBA G League for the services of top high school players, Kevin Draper of The New York Times reports.
Sports media company Overtime will seek to stock its league with approximately 30 players, some as young as 16 years old, by offering a minimum of $100K. Participants could also receive signing bonuses as well as shares in Overtime’s larger business.
The company will provide health and disability insurance, as well as an additional $100K in college scholarship money for players who choose not to play professionally. Anyone who joins the league would forfeit their eligibility to play high school or college basketball.
Last year, the G League became a stronger competitor to the NCAA for the projected one-and-done players coming out of high school. The league formed the Ignite Team, comprised mainly of top prospects, with financial enticements of $500K or more per player.
The new Overtime Elite will be located in one unnamed city, where players will live and train together. An educational support staff will assist in helping the players receive their diplomas.
The basketball operations division will be headed by former 76ers and Kings executive Brandon Williams. Aaron Ryan, who previously worked in the NBA league office, will serve as the league’s commissioner.