Overtime, a multimedia sports company, officially launched its new professional basketball league for high school prospects called “Overtime Elite” on Thursday.
Overtime Elite, also known as OTE, will consist of 30 players who will all earn $100,000 per year, plus bonuses and shares of equity in Overtime according to Overtime’s press release. Players will also be able to profit off their name, image and likeness through avenues such as custom jersey sales, trading cards and video games. Players will also have the right to sign sponsorships with sneaker companies.
Overtime Elite will also provide health care for players. Those who don’t pursue professional opportunities after playing in the league will have up to $100,000 of their college tuition cost covered.
The league is being headed up by Aaron Ryan, a former NBA executive who once worked as Senior Vice President of USA Basketball, and Brandon Williams, a former NBA player and front office executive. Ryan will work as Overtime Elite’s Commissioner and President. Williams will serve as the head of basketball operations.
“Many athletes aren’t properly prepared for what it really means to go pro,” said Carmelo Anthony, who is joining OTE’s board of directors, in the release. “We need to do a better job of empowering the next generation of players and setting them up for success. OTE is leading the way on that front by offering players a comprehensive route that fully develops the athlete – not just basketball skills, but also education, economic empowerment and building their own brand. Having this type of guidance for high school players is critical in setting them up for a successful career both on and off the court.”
According to 247Sports’ Travis Branham, 2023 combo guard Mikey Williams, the No. 2 player in his class, will be a primary target for Overtime as it begins its recruiting efforts to attract talent to the league. Williams has become an internet sensation throughout his high school basketball career, amassing nearly three million followers on Instagram.