And who is the company behind them, "Overtime"?
In March 2021, Overtime announced the creation of Overtime Elite, a basketball league that would pay elite young basketball players a $100,000 salary and offer equity in the company. Players would have to forego playing traditional high school or college basketball. The league will provide health and disability insurance, and set aside $100,000 in college scholarship money for each player if any decide not to pursue basketball professionally. In addition to receiving a high school diploma, Overtime Elite's educational offerings will place an emphasis on developing life skills supplementing traditional courses with those focused on financial literacy, media training and social justice advocacy.
Former NBA Executive Aaron Ryan serves as Overtime Elite Commissioner and President and Former NBA-Champion and Sacramento Kings executive Brandon Williams is the league's Head of Basketball Operations. Carmelo Anthony, Jay Williams, Dan Porter, Zack Weiner and Aaron Ryan are on OTE's board of directors with potentially others to be added.
Overtime (sports network)
Overtime is a distributed sports network and brand. Instead of offering content through a single channel, Overtime's programming is available across Instagram, Twitter, Facebook, YouTube, Snapchat, on TV (through a partnership with regional sports network SportsNet New York) and through Overtime itself. Overtime says that it has nearly 50 million followers across all of its social media channels and receives 1.7 billion views a month.
Overtime's coverage helped introduce a number of young high school athletes to national audience, including Rex Cassady, Trae Young, Jordan McCabe and Shareef O'Neal. In 2021, Overtime announced that it was forming a new professional basketball league called Overtime Elite that will pay 16, 17 and 18 year olds.
ABOUT -- Overtime Elite
OTE teams will feature top high school rising juniors, seniors and post-graduate athletes globally. They will compete both within the league and in external competitions against domestic and international teams. The league will feature 24 to 30 players, all living, learning, and training in Atlanta.
Each athlete will receive a guaranteed minimum salary of at least $100,000 per year, plus bonuses and shares of equity in Overtime. Players will participate in revenue from use of their name, image and likeness, including through sales of custom jerseys, trading cards, video games, and NFTs. Players retain the right to sign direct sponsorships with sneaker companies.
Every player will receive full health care coverage as well as disability insurance coverage, providing financial protection should they receive an injury that hinders their ability to play professionally. For each athlete, Overtime will guarantee payment of up to $100,000 for college tuition should they decide not to pursue a professional basketball career.
OTE will offer a direct-instruction model led by individual instructors who teach both 1:1 and in small group sessions featuring a 4:1 student-teacher ratio. OTE will supplement a traditional course offering with a focus on life skills including financial literacy, media training, and advocacy and sports, and business of basketball.