The Historical Basketball League (HBL) has announced a partnership with McGowan PAE (Professional Athletes & Entertainers), a division of The McGowan Companies.
“We are pleased to partner with a company like McGowan PAE, which is exclusively focused on providing athletes with an elite service in an area often overlooked or not considered in the context of college sports,” said Ricky Volante, CEO of the HBL. “Having the ability to include specialized insurance solutions as part of the overall package our athletes receive by participating in the HBL is another example of how we view them as full-fledged citizens with the rights and benefits to show it. It is core to the HBL’s mission not to exploit our athletes, and part of that is making sure that they are insured. Our partnership with McGowan PAE provides our athletes with the proper insurance coverages for all of their personal and commercial exposures on and off the court.”
Jim Convertino, Director Professional Athletes & Entertainers Insurance Solutions Practice said that “McGowan PAE is excited to bring our unique services to the athletes of the HBL in their efforts for college athletes to finally be recognized as professional athletes. We are proud to be an asset to the HBL as it works to offer students the same level of protections available to professional athletes in other leagues. Our expertise provides the athletes with the proper insurance coverage as an additional benefit for being a participant in the HBL.”
McGowan PAE specializes in providing personal insurance coverage (home, tenants, jewelry, automobile, umbrella) for professional athletes, ballclub owners, and coaches while also providing commercial coverage for their Foundations, personal appearances, endorsements, special events, commercial ventures, social media accounts, businesses, health and disability coverage, basketball camps, websites, and charity outings. McGowan PAE represents over 400 professional athletes across the NBA, NFL, NHL, and MLB.
The HBL noted that it “is the first national basketball league for college students that will substantially compensate college athletes based on their athletic ability beyond just a college education.
“The HBL is founded on a simple idea: college sports are popular because they are sports played by college students, and that NCAA-style amateurism is a means of excluding athletes from the financial benefits of the league, rather than as a benefit to fans or athletes. The HBL will also be a financial boon to the Historically Black Colleges and Universities (HBCUs) that participate in the league and share (with athletes and investors) in the league’s profits. The HBL gives schools and athletes an option outside of the traditional NCAA model — providing a choice of whether to go ‘pro’ while in college or to be amateur about it.”
Aside from Volante, the other co-founder of the HBL is Andy Schwarz, an antitrust economist with a subspecialty in sports economics. Schwarz is also one of the original founders of OSKR (www.oskr.com/) and served as President/Managing Partner for the firm’s first three years.
