The Futures Basketball League announced Tuesday it will launch in April 2027 as a national circuit for the top 120 under-18 basketball players in the United States.
The league is backed by LeBron James and Maverick Carter’s LRMR fund; Kevin Durant and Rich Kleinman’s Boardroom Sports Holdings; Orlando Magic forward Paolo Banchero; former NBA star Derrick Rose; and entrepreneur Gary Vaynerchuk. Jason Stein, co-founder and chairman, said the league aims to replace the fragmented summer travel circuit dominated by shoe companies.
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The league will begin with 12 regionally based teams. Players will sign contracts with the league—not individual teams or sponsors—and receive compensation through name, image and likeness (NIL) arrangements. Those deals will preserve eligibility for high school and NCAA competition. The league declined to disclose specific compensation amounts, though Rose told ESPN the payments could be “life changing.” Players may receive cash, league equity or both.
Each franchise costs $6 million, granting investors equity in the league. Stein said the league intends to secure media rights and sponsorship agreements, modeling its broadcast presentation after the Little League World Series and its player development approach on European youth academies.
Stein cited structural issues in the current youth system: more than 200 teams across seven leagues in spring and summer; many top prospects receiving no NIL compensation; inconsistent coaching quality; and an overemphasis on individual statistics rather than team play.
Rose, who will operate the Chicago-based team, is developing a financial literacy program with Northern Trust. He described his recruiting approach as conversational and business-focused: “I’m just going to ask some simple questions about what they’ve done before I met them—and how I can help them moving forward.”
The league faces challenges including persuading elite prospects to leave existing shoe-sponsored circuits and maintaining constructive relationships with major sneaker brands. Stein said he has held constructive discussions with those companies and plans to collaborate with them.
This effort follows earlier initiatives that did not sustain: Overtime Sports’ teen league required forfeiting college eligibility; the NBA’s Jr. NBA league aired for only two years; and the NBA’s Court of Leaders program was discontinued last year, with multiple staff laid off from its youth development division.
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