Music executive Steve Rifkind has decided to start his own basketball league, called the American Basketball League. As chairman of Loud Records and the CEO of SRC Records, Rifkind knows how to run a successful enterprise. He will have the league running a 24-game, 12-team season that should begin in January 2013. To compete with the NBA's D-League, Rifkind will pay players as much as $3,000 per month.
Rifkind has been associated with such acts as Akon, Wu-Tang Clan, Big Pun, Three Six Mafia, David Banner, and more. It seems like a stretch for someone who's only dealt in music, but hopefully Rifkind finds success.
Source: inflexwetrust.com
