The league collectively owns all 12 of its teams and sets player contracts.

It would also be the first franchise among the major professional sports leagues owned by a casino.

The league owns the contracts of all the players and pays them from a central fund.

The league owns the naming rights to the team as well as the other seven original teams.

The league owns all player contracts and pockets any transfer fees.

Rather, the league will own all teams.

Each owner will put up $30 million, giving him an initial half-interest in the team; the league will own the other half.

Then the owner, the league and the fans will each own a third of every franchise.

Since the league owns all player contracts, each team must operate under a salary cap of about $300,000.

It was believed that the league owned his rights, but details of any such deal were never publicly clarified.