Sports media company Overtime will start a basketball league that will pay youths at least $100,000 a year and provide them a stake in the company.
It will kick off next September with 30 players in an undisclosed location.
The company has investors including Brooklyn Nets star Kevin Durant, Portland Trail Blazers forward Carmelo Anthony and Silicon Valley venture capital firm Andreessen Horowitz.
The Overtime Elite league will let players bypass traditional high school and collegiate levels while building their brand before becoming eligible for the NBA. It will start in September with 30 players, and will be based in a single location, which is still under discussion.
Should OTE players not pursue a professional career, it will provide an additional $100,000 for college tuition. But if youths do participate in the league, players lose their NCAA eligibility because they are receiving payment.
But David Stern was the most influential. He was the first investor in Overtime, helping it raise $2.5 million in 2017, three years before his death.