Upstart basketball league Overtime Elite will open a new 103,000-square-foot arena facility in Atlanta’s Atlantic Station neighborhood, it said Wednesday in an announcement naming the city as its home.
The venue, which Overtime Elite (OTE) said it expects to open in September, will house a new model of amateur basketball player development. The league will play each player at least $100,000, also providing year-round training, an academic program, and other opportunities, it said this week.
The company said it chose Atlanta after visiting eight other potential home cities across the United States.
“If we could construct a city that would be the perfect home for Overtime Elite, it would look just like Atlanta,” Overtime Elite Commissioner and President Aaron Ryan said in a statement.
“The city’s storied basketball history, diverse population, vibrant business community and rich culture make Atlanta a special place. OTE is looking forward to being an active contributor to the community.”
The facility itself will take shape just south of 17th and Market Streets, according to a league spokesperson.
OTE said it expects the project will create as many as 400 construction jobs, at least 30 percent of which will be held by minorities, and be built in time for the league’s September debut.
Its parent company, Overtime, is a media company founded in 2016 and backed by a group of celebrities ranging from Amazon founder Jeff Bezos to Hawks Point Guard Trae Young.
Along with earning a minimum six-figure salary, OTE players will also be offered equity in Overtime and “participate in revenue from use of their name, image and likeness, including through sales of custom jerseys, trading cards, video games and (non-fungible tokens),” the company said in its release.
“This exciting announcement underscores that Atlanta is still a great place to do business. Overtime Elite will bring several well-paying jobs to our city, generate millions of dollars in economic impact and expand mentorship and programming opportunities for our young people,” Atlanta Mayor Keisha Lance Bottoms said in a statement.
“We are pleased that Overtime Elite has chosen Atlanta to be its permanent home, and we look forward to welcoming the next generation of basketball stars to our city.”
