t's the most improbable story in the sports business industry so far this year.
While sports leagues try to figure out exactly how they're going to deal with this economic downturn, a new sports league is being announced today.
It's called the United Football League and its season, dubbed "UFL Premiere," is scheduled to kick off in October with four teams that will play a six-game season in at least seven cities.
Led by former NFL executive and agent Michael Huyghue as commissioner and prominent sports marketer Frank Vuono as chief operating officer, the season has been financed through $30 million of capital provided by a group of investors including investment banker Bill Hambrecht, Google [GOOG 357.68 -5.37 (-1.48%) ] senior vice president Tim Armstrong and Paul Pelosi, the husband of the Speaker of the House, Nancy Pelosi.
While there has been no discussion of Brett Favre playing in the UFL, it would make a lot of sense for both sides. Favre retired because he could not take the grind of a long season anymore, not because he stopped loving the game. In this league, he would be able to play a very short season to cut down on wear and tear, and he would probably dominate since rosters will not be NFL quality. The UFL is well-financed and could pay him a few million bucks. In addition, Brett could enhance his legacy by building a new league. The benefits for the UFL would be obvious. Favre would bring instant credibility and attention.
It seems like a marriage made in heaven. We will see whether either side realizes it.