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U.S. Basketball Academy to get another shot.

Publication: The Register-Guard (Eugene, OR)
Publication Date: 28-JUN-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: U.S. Basketball Academy to get another shot.(Business)(The struggling camp is in talks to be bought by a New Jersey development firm)

Article Excerpt
Byline: Joe Mosley The Register-Guard

BLUE RIVER - It will be the same game but a different name on the bottom line for the United States Basketball Academy.

The financially challenged,10-year-old institution of hoop awareness and next-door neighbor to Tokatee Golf Course is likely to be under new ownership within a month, according to the academy's current owner and its would-be purchaser.

Founder and President Bruce O'Neil said he has reached a tentative agreement to sell the basketball academy for about $15 million to a New Jersey development company that is made up largely of former professional athletes. O'Neil would remain in charge of the camp's operations, and would continue to build relationships with Chinese national basketball organizations, while new owner Pro R.E. Developers would take over the USBA's business end, according to both parties to the deal.

"It will allow us to go out and do what we do best," O'Neil said. "We've been a small company for so long, trying to go out and compete in the big arena. This will give us, and our investors,...

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