WHAT IS THE CONCEPT BEHIND THE CANADIAN BASKETBALL LEAGUE
The CBL is a professional basketball league governed by FIBA rules, incorporated on July 30, 2014 in Toronto, Ontario. The CBL uses the best concepts from Euroleague Basketball, Major League Soccer (MLS) and the Canadian Hockey League (CHL). Until the establishment of the CBL, Canada was the largest country in the world that did not have a professional basketball league governed by FIBA rules to support its national basketball team (Canada Basketball).
There are currently over 250 Canadians that are either in the US college system or playing professionally overseas. The CBL will eventually require six Canadians per team by 2018.
WHY COMMUNITY OWNERSHIP?
Community ownership done correctly has historically provided tremendous value to the local community. Examples include the NFL’s Green Bay Packers and in Canada, the CFL’s Edmonton Eskimos, Winnipeg Blue Bombers, Saskatchewan Rough Riders and the CHL’s Kitchener Rangers, Lethbridge Hurricanes, Moose Jaw Warriors, Prince Albert Raiders & Swift Current Broncos.
WHY IS COMMUNITY OWNERSHIP A GOOD OWNERSHIP MODEL?
Community ownership done correctly with municipal support values the team on a long term basis instead of the short term decisions of one owner. Community owners purchase their membership understanding that the team is an important professional entertainment asset and their involvement is not limited to their team only winning. In the case of the CBL, community owners also have a commitment of providing a professional basketball league governed by
FIBA rules for Canadians.
WHAT BENEFITS DOES A TEAM’S FOUNDING MEMBER RECEIVE?
Below are the list of benefits Founding Members receive when signing on with the team:
- Avoid Game-Day Lineups
- VIP Parking & Premium Seating and renewal of those benefits.
- The earlier the member signs their membership agreement, they establish their priority in choosing to change or upgrade their seating in future years.
- In the Team Annual General Meeting, they get to vote on specific issues related to the team every year including the Board of Directors, members can also be elected to the board of directors.
- They have the right to sell their membership with approval of the executive team themselves.
- Additional benefits include annually meeting the coaches & team, every year in November.
- Once a month during the season, there will be a pre-game coaches corner at a local meeting room.
- Members also have the option to have sponsorship priority if they individually or through corporate partnership own over 8 Founding Memberships. Those in-venue advertisements will be discounted 20% off the team rate card for sponsors
5. HOW CAN A PATRON RENEW A SEASON TICKET?
To renew a season ticket, a 10% deposit on renewals is due by March 15, 2016 with remaining payment due by December 1, 2016.
6. IF I PURCHASE A SEASON TICKET AM I REQUIRED TO IMMEDIATELY BUY A FOUNDING MEMBERSHIP?
Season ticket pricing is defined in each team’s pricing chart and does not require a founding membership with the exception of Floor Seats unless otherwise stated.
7. HOW ARE THE PREMIUM PARKING SPOTS ALLOCATED TO FOUNDING MEMBERS?
Premium parking is limited to the first 250 members who purchase at least two memberships with two season tickets.
8. HOW LONG IS THE FOUNDING MEMBERSHIP VALID FOR?
The Founding Membership fee, is a one time assessment which is good for the first four years. Any additional capital assessment would require a successful vote of 66% of all members at the Annual General Meeting.
9. DO MEMBERS RECEIVE ANY CASH DISTRIBUTIONS OR DIVIDENDS?
No, members do not receive any cash distribution or dividends, any excess cash or profit will be held by the club for future investment in the team operations.
10. HOW DO WE GET MORE INFORMATION ABOUT THE CBL AND/OR IT’S FOUNDING MEMBERSHIP?
For more information please contact: firstname.lastname@example.org