Steve Rifkind is starting an American-based basketball league called the American Basketball League.
Rifkind is the founder and chairman of Loud Records, as well as the CEO of SRC Records. Rifkind has worked with many hip hop musicians and also has worked on many marketing campaigns.
An inaugural 24-game, 12-team season will begin in January of 2013.
It will challenge the NBA's D-League by paying as much as $3,000 per month and serve as an overseas player feeder.
The league will be based in Miami, San Antonio, San Marcos, Sugarland, College Station, Ft Lauderdale, West Palm Beach, Fort Walton Beach, Sebring and Corpus Christi.
The league will use FIBA rules.