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Well in the past week and the road to the Super Bowl kicked off with the NFL playoff I was glued to the television as usual -- although the economy is down sports economists expecting and I felt the -- increase in the league's 2007.
Revenues which exceeded seven billion dollars.
Those numbers have a couple of former finance executives thinking that their new room for more pro football so -- formed.
The united football league it has six cities ready to go and is talking not giving fans and I you know investment in those franchises here with the details on their deal.
I'm joined by UFL founder bill Hambrecht you've -- of the financial services firm WR Hambrecht and company.
And Michael -- he's the commissioner of the US now and a former and it fell executive Goodwin gentlemen thanks for being here.
Michael let me start with you there are a lot of people out there who say.
How old could you consider doing something like this in this economy particularly given what we've seen with the ballclub that we -- Which just -- tell me a little bit about it and why you think you can do it.
Well I'm a passionate football fan and I think there's millions of passionate football fans you just mentioned -- watching NFL games.
Our league is really a great opportunity for the spillover of talented football players to get an opportunity to play.
Curt -- a classic example of a player who was sort of missed in the original selection of players in the NFL he's had a prosperous career.
There's hundreds of those type of players and we just want to provide those opportunities.
As well as for coaches and front office executive.
You -- -- you weren't known for what you have done in the investment and the Wall Street community -- -- is.
You're starting -- football league doesn't necessarily go together tell -- why he wanted to do that.
Well I thought.
-- Who is a great attraction to having.
Football franchise owned by the public and by the fans and by the people who live in in the city.
With a franchises located -- to -- -- -- -- my world of finance and IPOs and the football world came together.
So -- for tell how that works because you're you're talking about -- stake.
Many people liking it to what happens with the Green Bay Packers for example but.
But tell me how little this situation work -- -- -- -- be in as many as sixteens in six cities to start.
That's correct they'll be six cities six independent franchises.
And each franchise will be financed.
By local people -- private investors and public investors.
So Michael you have as we mentioned very beginning you were former NFL executive.
You know what works in the football world and the football community and this is at a different idea at a time when most people -- say.
How could you possibly get the funding how to get the participation had to get.
The players and then the money to pay them the necessary salaries what we -- how -- missile together well.
You know it's an interesting time clearly the economy is a tough time but there -- -- number of people that are looking for opportunity in our league is one of innovation we are finding.
People that are excited about football in their markets that don't have NFL franchises to support.
They believe in the concept that there's a lot of talented football players out there.
And so they're putting groups together each franchise is run by -- chairman and he has.
Five or six or seven local independent investors with -- their funding about sixty million dollars to operate these franchises.
We have about a twenty million dollar players salary cap.
We're gonna get some exciting players and I ran the Jacksonville Jaguars for the first seven years and I saw the same type of players I think we'll get in -- -- And Michael I have heard rumblings that you would even consider perhaps if you could.
Trying to attract somebody like Michael -- now that Ryan is is over the falcons and doing fairly well one can die and doing well until this weekend.
-- but -- but is that true.
Well it's going to be a league of opportunity and we're certainly gonna let the fans have a say in almost everything we do in fact we're putting up on our web site.
-- Novak and he'll be one example of many players that will consider.
Of course players like that have some interest -- background considerations that -- to consider but it's going to be a league of opportunity and certainly he'll be one consideration.
Bill you know I guess the number one thing you guys have to figure out his -- and differentiate yourself given particularly what is apple with the Arena Football League.
You tell me how how we gonna do that.
Well I think the big differentiation is that we're going into markets.
That the NFL is not established in or is leaving so.
If -- you know basically NFL has done a lot of things went really well they they have a great product they have a great sport and they have -- you know just done a wonderful job of implementing.
But they have not expanded into some of the major growth areas the United States.
I mean it's amazing when you think about it that -- Los Angeles does not have its own -- yeah -- Las Vegas.
So true him Michael before I let you go I understand from the big announcements -- com.
During Super Bowl week and that is it by as early as march 1 will know the teens and you'll start you know -- people try out.
Yes exactly right will have an announcement around Super Bowl week announcing the six owners and general managers and presidents.
We already have a twenty million dollar training facility in customer on Arizona that the city is building for us for our teams to compete in.
So we've got a lot of things we start signing players march 1 so.
We're really excited about the events coming up.
I'm excited more -- a good thing have Michael Hughes great to see you and bill Hambrecht as well good luck guys and keep us up to date and come back during Super Bowl week to give us.
The first -- on the city's one -- right here.
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