Rendering of the new Overtime Elite basketball campus in Atlanta.
Media company Overtime has selected Atlanta to host its basketball league, which pays teenagers over $ 100,000 per season. The company is also building a new building for the games.
Overtime Elite, which will only feature high school players between the ages of 16 and 18, released the rendering of a 103,000 square meter complex in Atlantik’s Atlantic Station. It is said that the players will be housed on campus, which provides personal living space and space for educational courses. The project is expected to be completed by OTE’s debut in September.
OTE President and Commissioner Aaron Ryan said in a statement that Atlanta’s “diverse population, vibrant business community and rich culture” were noticed when searching for a location. Over time, the project estimated that 400 construction jobs would be added in Atlanta, and that at least 30 percent of those jobs would be “different hires.”
Atlanta Mayor Keisha Lance Bottoms said the announcement “underscores that Atlanta is still a great place to do business. Overtime Elite will bring several high-paying jobs, millions of dollars in economic impact, and opportunities for our city.” Expand mentoring and programming for our young people. ” People.”
Over time started OTE in Marchand the league enables players to benefit from basketball while using their personal brands through name, image and likeness. OTE plans to offer player education courses, life training and financial literacy. The league pays an additional $ 100,000 for college expenses in case the players don’t go the professional route.
Overtime’s revenue was launched in 2016 by executives Dan Porter and Zachary Weiner of William Morris Endeavor and comes from two sources. One of these is targeting brands indirectly by incorporating them into their online media content and making money from video ads. The other is direct revenue through e-commerce.
Overtime increased in April $ 80 million from investors, These include Amazon CEO Jeff Bezos’ investment firm, global entertainer Drake, Reddit co-founder Alexis Ohanian, and several National Basketball Association players. To date, the Brooklyn-based company has raised more than $ 140 million.
“The breadth and diversity of this investment group, which includes business, entertainment, technology and sports executives, speaks for the remarkable growth of Overtime and our future development,” Porter said in April. “We believe this is just the tip of the iceberg as we develop new overtime opportunities to connect and entertain the next generation of athletes and fans.”