Wall Street renegade Bill Hambrecht is taking on one of America's biggest monopolies and launching his own professional football league. The United Football League plans to launch its challenge to the NFL's hegemony in 2008 with eight teams in non-NFL markets, including Los Angeles, Las Vegas, and Mexico City. One owner—Mark Cuban, of course—is already on board.
Hambrecht and his partner, Google executive Tim Armstrong, are seeking to raise $60 million per team through the channel that made Hambrecht's name: IPOs. Fans can buy shares in their favorite teams, which Hambrecht hopes will build loyalty. For players, the UFL will look to the Arena and Canadian leagues as well as late-round NFL picks.