Misplaced Pages

#766233

34-839: Former teams of the American Basketball Association (2000–present) include the following, reflecting teams that are either defunct or left the ABA for other leagues: American Basketball Association (2000%E2%80%93present) ABA teams are based in the United States, with one traveling team from Japan. The league previously had international teams based in Canada, China and Mexico. League management infamously maintains low requirements for franchise ownership, and hundreds of ABA teams have either folded or defected to rival leagues. The league licenses its name and use of ABA trademarks from

68-587: A clear picture of the individual's history. In the United States, under the Miller Act of 1932, all construction contracts issued by the Federal Government with a value over $ 150,000 must be backed by performance and payment bonds. The Miller Act is now embodied in 40 USC chapter 31, subchapter III. States have also enacted what are referred to as " Little Miller Act " statutes, requiring performance and payment bonds on State-funded projects. Each bond has

102-505: A designated bond amount. Surety bond companies will determine the bond rate based on risk and then charge a surety bond premium in the range 1-15% of the bond amount. In the United Kingdom, performance bonds are commonly required for construction projects. These bonds provide financial security and peace of mind for all parties involved in the project, including the contractor, project owner, and suppliers. Performance bonds ensure that

136-426: A project by a contractor . The term is also used to denote a collateral deposit of good faith money , intended to secure a futures contract , commonly known as margin . Performance bonds have been around since 2,750 BC. The Romans developed laws of surety around 150 AD, the principles of which still exist. A job requiring a payment and performance bond will usually require a bid bond , submitted when bidding for

170-515: A scheme to acquire an NBA Development League franchise. At the start of the 2008–09 season , over 200 teams had folded since the league's inception. The 2008–09 season saw the Southeast Texas Mustangs franchise join the league after leaving the struggling Continental Basketball Association . The ABA attempted interleague play with the four remaining CBA teams, but their league folded mid-season. NBA scouts stopped attending

204-717: A series of exhibitions against ABA teams including the Clayton Showtime, Los Angeles Slam, Riverside Rainmakers, San Diego Surf and the West Coast All-Stars. This April 2010 series was referred to as the ABA Friendship Games. Dick Packer was named league President and COO in April 2010. After winning their second consecutive championship in 2010–11 , the Southeast Texas Mavericks publicly opined that

238-460: A straightforward notary bond. If a given surety bond type has paid out a high percentage of claims, then the premium amount paid by applicants will be higher. Surety bond companies attempt to predict the risk that an applicant represents. Those who are perceived to be a higher risk will pay a higher surety bond premium. Since surety bond companies are providing a financial guarantee on the future work performance of those who are bonded, they must have

272-525: A venue. A proposed merger with the International Basketball League fell through in December 2000, which would have allowed the inaugural season to begin with additional teams. To attract fans, the ABA encouraged its teams to fill rosters with former NBA players and past college basketball stars that had local ties. Former NBA champion and Florida native Darryl Dawkins was recruited as

306-807: The 2004–05 ABA title in their first year of play, but then left with the Long Beach Jam to join the rival NBA Development League . The ABA welcomed the Beijing Aoshen Olympians beginning with the 2005–06 season , a club which had been banned from the Chinese Basketball League after refusing to allow star prospect Sun Yue to play for the Chinese national team . The Olympians played their home games in Maywood, California . CCTV-5 in China broadcast

340-565: The 2014–15 season . After completing a perfect season for the second time in 2014–15 and winning their fourth championship, the Shreveport-Bossier Mavericks left the ABA to join the Premier Basketball League . Joe Newman returned to the role of league President and CEO beginning with the 2015–16 season . The Jacksonville Giants drew the league's all-time record crowd of 8,987 for their 100–93 victory over

374-662: The National Basketball Association , which absorbed the American Basketball Association (1967–1976) during the ABA–NBA merger . The Women's American Basketball Association has operated as a sister league to the ABA since 2017. The league was originally co-founded by Dick Tinkham and Joe Newman in 1999 as ABA 2000 . Tinkham had previously co-founded the Indiana Pacers in the original American Basketball Association , and Newman had been an advertising executive for

SECTION 10

#1733084942767

408-661: The Premier Basketball League (PBL). Following the 2007–08 season , the reigning champion Vermont Frost Heaves left for the Premier Basketball League along with the Halifax Rainmen , Manchester Millrats and Quebec Kebs . Quentin Townsend, owner of the Atlanta Vision , was named league President and COO in April 2008. He was later removed from those positions after being arrested in November 2008 for defrauding investors in

442-461: The Vermont Frost Heaves , regularly penning articles in the publication about his team's inaugural campaign. John Salley and Tom Doyle attempted a boardroom coup on behalf of shareholders , with ABA's Board of Directors voting to remove Joe Newman as CEO on January 31, 2007. Newman sued Salley and Doyle, leading to a settlement in which he kept his job and forced their resignations from

476-418: The bankruptcy of the contractor), the client is guaranteed compensation for any monetary loss up to the amount of the performance bond. Performance bonds are commonly used in the construction and development of real property, where an owner or investor may require the developer to assure that contractors or project managers procure such bonds in order to guarantee that the value of the work will not be lost in

510-519: The 2022–23 season after storm damage rendered the venue for their championship game unplayable. The league employs a number of unconventional rules that are unique to the league: 109 teams completed at least one game during the 2023–24 season. The league's oldest surviving franchises are the Jersey Express (est. 2005), Georgia Gwizzlies (est. 2007), Steel City Yellow Jackets (est. 2014), and Indiana Lyons (est. 2017). Franchises that left

544-503: The ABA but still compete elsewhere include the Detroit Panthers ( Maximum Basketball League ), Motor City Cruise ( NBA G League ), and Newfoundland Rogues ( Basketball Super League ). USA: Asia: Africa: Americas: Canada Europe: Performance bond A performance bond , also known as a contract bond , is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of

578-670: The ABA did not have adequate competition, and they left with intentions of joining the NBA Development League . However, their application to join the NBA Development League was denied, and the franchise sat out the 2011–12 and 2012–13 seasons. Consecutive titles were won by the Jacksonville Giants in their absence, with championship wins over the previously undefeated South Carolina Warriors in 2011–12 and North Dallas Vandals in 2012–13 . The team returned to

612-605: The ABA for 2013–14 as the Shreveport-Bossier Mavericks , going undefeated and winning the league title in a perfect season . At the conclusion of the 2013–14 season , over 350 franchises had folded since the league's inception. Former Arizona Scorpions owner Ron Tilley replaced Joe Newman as league President and CEO following Newman's retirement in July 2014. The league signed a two-year streaming deal with ESPN3 in August 2014 to broadcast regular season and playoff games beginning with

646-593: The Chicago Skyliners, Detroit Dogs , Indiana Legends, Kansas City Knights , Los Angeles Stars , Memphis Houn'Dawgs, San Diego Wildfire and Tampa Bay ThunderDawgs. Joe Newman founded the Indiana Legends to replace the Jacksonville Jackals, who were removed from the league after failing to secure a venue. Mark Hamister purchased the rights to a Buffalo franchise for $ 75,000, but was also unable to secure

680-519: The Pacers. The National Basketball Association (NBA), owner of the ABA trademark after absorbing many of the original league's teams, sued Tinkham and Newman in December 1999. The lawsuit was unsuccessful since the NBA had failed to actively use the ABA trademark, and the new league entered an agreement with the NBA to license the name for $ 50,000. The league began its inaugural 2000–01 season with eight teams:

714-482: The amount of teams that a league has, it's the amount that finish. In preparation for the league's initial public offering ( ABKB ), former NBA player John Salley was named league commissioner and Maryland Nighthawks owner Tom Doyle was named league COO in September 2006. Cost for new franchises was subsequently raised to $ 20,000 for the 2006–07 season . Sports Illustrated writer Alexander Wolff launched

SECTION 20

#1733084942767

748-469: The applicant's risk. Once the bond type, amount, and applicant risk are adequately assessed, a surety bond underwriter is able to assign an appropriate surety bond price. Surety bond companies have actuarial information on the lifetime claims history for each bond type. Over time, surety bond underwriters are able to determine that some surety bonds are more risky than others. For example, a California Motor Vehicle Dealer bond has significantly more claims than

782-399: The buyer will at least receive compensation for his lost costs. Performance bonds are generally issued as part of a 'Performance and Payment Bond', where a payment bond guarantees that the contractor will pay the labour and material costs they are obliged to. Surety bond companies calculate the premium they charge for surety bonds based on three primary criteria: bond type, bond amount, and

816-403: The case of an unfortunate event (such as insolvency of the contractor). In other instances, a performance bond may be requested to be issued in other large contracts besides civil construction projects. Another example of this use is in commodity contracts where the seller is asked to provide a Bond to reassure the buyer that if the commodity being sold is not in fact delivered (for whatever reason)

850-697: The first head coach of the Tampa Bay ThunderDawgs. The 2001–02 ABA season saw only three teams return from the inaugural season, with the Chicago Skyliners, Los Angeles Stars , Memphis Houn'Dawgs, San Diego Wildfire and Tampa Bay ThunderDawgs replaced by the Kentucky Pro Cats, Las Vegas Slam, Phoenix Eclipse and Southern California Surf. Joe Newman folded the Indiana Legends after he was sued by eight former players in August 2002 for failing to pay their salaries. Newman had claimed $ 1 million in losses over two seasons of ownership. The 2002–03 season

884-413: The job. When the job is awarded to the winning bid, a payment and performance bond will then be required as a security to the job completion. For example, a contractor may cause a performance bond to be issued in favour of a client for whom the contractor is constructing a building. If the contractor fails to construct the building according to the specifications laid out by the contract (most often due to

918-436: The league when he signed with the Long Beach Jam , leading them to an ABA title in their first season. The 2004–05 season saw franchise fees lowered from $ 50,000 to $ 10,000, and the bond requirement removed in order to attract new teams. Teams were subsequently organized into regional groups to facilitate interest and reduce travel costs, with 37 clubs competing that season in three divisions. The Arkansas RimRockers won

952-517: The league's games in January 2009, citing the amount of cancelled and forfeited contests. Several teams folded during the 2009–10 season , including the entire Pacific Northwest Division. The San Francisco Rumble forfeited their playoff game against the Southeast Texas Mavericks , as they could not afford to travel for the contest. Gilas Pilipinas , the Philippine national basketball team, competed in

986-593: The league. The 2006–07 season concluded with the defending champion Rochester Razorsharks withdrawing from the league after they asked to reschedule a playoff game against the Wilmington Sea Dawgs , but were denied and told to forfeit. Following this incident, the Hammond Rollers , Jacksonville Jam , Maryland Nighthawks , Quad City Riverhawks and Wilmington Sea Dawgs joined the Razorsharks in forming

1020-582: The previously unbeaten Chicago Steam at Jacksonville Veterans Memorial Arena on January 16, 2016. It had been reported the week prior that the Orlando Magic was considering adopting the Giants as their NBA Development League affiliate, although later in the year they instead moved their existing affiliate Erie BayHawks to Lakeland, Florida . A sister league, the Women's American Basketball Association (WABA),

1054-497: The team's first perfect season and third in ABA history. A play-in tournament was implemented beginning with the 2021–22 season to determine which teams would advance to the divisional round of the playoffs. Following elimination from the 2021–22 playoffs by the Steel City Yellow Jackets , the Jacksonville Giants ceased operations. The Burning River Buckets and Indiana Lyons were declared co-champions of

List of former American Basketball Association (2000–present) teams - Misplaced Pages Continue

1088-597: The team's games, where they were watched by an average of 15 million people. Following the 2005–06 season in which many teams failed to complete their full schedules and became insolvent, the Charlotte Krunk , Florida Pit Bulls , Indiana Alley Cats , Pittsburgh Xplosion , San Jose Skyrockets and SoCal Legends left to join the rival Continental Basketball Association . My idea of success and Newman's differ. I'd rather have fewer teams, that are stable and last, as opposed to having tons that continue to fold. It's not

1122-555: Was launched in 2017. Jersey Express owner Marsha Blount was named the league's President and CEO. The 2017–18 season saw franchise fees lowered to $ 2,500. League co-founder Dick Tinkham died of muscular dystrophy in October 2018. The 2019–20 season was ended prematurely and the playoffs cancelled due to the COVID-19 pandemic . The undefeated Jacksonville Giants captured their seventh and final championship in 2020–21, concluding

1156-581: Was not played, as the league suspended operations for reorganization. Jim Clark, owner of the Kansas City Knights , was named league president and COO in November 2002. The league resumed play with seven teams for the 2003–04 season . The returning Kansas City Knights were joined by the Fresno Heatwave , Jersey Squires, Las Vegas Rattlers, Juárez Gallos de Pelea , Long Beach Jam and Tijuana Dragons. Dennis Rodman brought national attention to

#766233