USBL SUSPENDS 2008 SEASONDecember 27, 2007 By USBL
MILFORD, CT — (December 27, 2007) The United States Basketball League (USBL) has announced the suspension of its 2008 season.
Management has made a decision to increase the number of franchises before it schedules the next season. In addition, the company has retained Colebrooke Capital, a New York investment company to explore ways to improve the structure of the Company, its sales, growth and shareholder value.
Management will establish goals with Colebrooke and discuss strategies which will enable the Company to improve its capital strategies; identify merger candidates and new acquisition targets; and continue to focus on expansion with the new franchise groups who have expressed interest over the past few months.
“This process should reward shareholders and strengthen the USBL financially,” stated USBL Commissioner Daniel T. Meisenheimer, III.