ASM Rules and Regulations - V.2
Important Trading Terms To Know
Affiliate Program
ASM Index
Baron Program
Cancellation fee
Commissions
Commission breaks
Contact Information
Contests
Corporate Ownership
Deposits
Dividends
Dividend Transfers and Payouts
Float
Forum Code of Conduct
Holding Companies
Initial Public Offering (IPO)
IPO Watch Page
Live Support
Locks and Reviews
Lock Watch Page
Majority Ownership
Margin (Previously known as bonus money)
Moving Average
Orders and Order
Crossing
Bonus and Bonus Repayment
Payment Calendar
Promotion
Relegation and De-listed Issues
Dividend Reserve
Retirement and Injuries
Secondary Public Offering (SPO)
Short Selling
Split Watch Page
Sports Derivative Profile Pages
Taxes/Reporting Earnings
Top Traders
Unlisted Teams
Withdrawals
Sports Trading Compliance Commission
Trading Terms Glossary
AllSportsMarket.com Statement of Vision
AllSportsMarket.com (ASM) is the World's first and only Global Sports Financial
Exchange (GSFE) that continuously trades sports-based monetary instruments.
Through direct relationships with the leagues, teams and players listed, ASM
creates harmonious, synergistic, and mutually beneficial partnerships.
It is our prime responsibility and duty to continually grow, improve and
enhance the exchange to provide a fair, stable and regulated worldwide
marketplace.
These precepts govern every decision and guide each detail without fail.
Chris P. Rabalais
President/C.E.O.
AllSportsMarket.com
Account Balances: This is a snapshot of your account summary found on top of 'My Account'
page.
Cash Balance: Your cash holdings.
Buying Power: The total amount of funds you
have available in your trading account (at any given time) to place orders
with. Your buying power is a combination of the terms and conditions of your
margin account (provided you have one) and your cash balance minus any open
positions you hold.
Shorting Power: This is a proprietary algorithm
based on your cash balance and trading history. Shorting is considered by many to be an advanced trading
strategy, please note you should be familiar with how shorting sport derivatives
functions before attempting to short.
Long Sports Derivative Value: The total
value of your long positions. For each sport derivative, the long value is
calculated by multiplying the number of derivatives held by its current market
price. Summing up all your derivatives yields the long Sports Derivative value.
Short Sports Derivative Liability: The total
value of your short positions. Since you borrowed these derivatives, it is a
liability. For each derivative this is calculated by multiplying the number of
derivatives shorted by its current price. Summing up all your open short
positions yields your short holdings liability.
Margin:
Previously known as 'Bonus' or 'Bonus funds'.
Margin funds are a loan from your broker that can be used to purchase
derivatives. ASM does not charge any
interest on your margin but you may not withdraw the margin funds from your
account.
Margin Call: A broker's
demand on an investor using margin to deposit additional money or securities so
that the margin account is brought up to the minimum maintenance margin. A Margin Call is activated depending on the
current market conditions and the individual trader's account history.
Account Value: Cash Balance (+) Long Sports
Derivative Value (-) Short Sports Derivative Liability.
Affiliate Program: The
Affiliate Program offers existing traders incentives for referring a new trader
to ASM. If you would like to learn
about the most current referral program offered please visit:
http://www.allsportsmarket.com/Affiliate/AffiliateLogin.asp
The ASM Index: The ASM Index can be found in the top left corner of
the home page and the top left corner of the Trade page. It is a benchmark that
projects general market conditions.
How is the ASM Index calculated? :
1. The current prices of the 6 highest issues from a
sector (league) are added and divided by 6.
2. This is done for every participant in every sector
trading on ASM.
3. The results for every league are added and divided
by the number of leagues currently trading.
4. This number is then multiplied by 100.
Note:
-The ASM index is split adjusted.
-Relegated teams are not included in the ASM index.
Baron Program: Baron is the "title" given to a trader or holding company that has a
majority ownership position in two or more eligible teams. Eligibility for a baronship requires
majority ownership of the total trading float for two (2) professional league
teams located in the same state (US), or province (Canada). Or a majority
ownership in two (2) collegiate teams representing the same institution.
Examples of how a baronship is created:
-Los Angeles Lakers and Oakland Athletics are
eligible because both pro teams are located in the state of California.
-New York Yankees and New York Giants are eligible
because both pro teams are located in the state of New York.
-USC Trojans Football and USC Trojans Basketball are
eligible because both college teams represent the University of Southern
California (USC).
Note: Baron conditions are exclusive and cannot be
mixed (i.e. Los
Angeles Lakers and USC Trojans Football cannot
constitute a Baronship).
Note: Baronship is currently available for the AFL,
CFL, MLB, MLS, NBA, NFL, NHL, WNBA, and NCAA sectors. Eligible teams must
either be a combination of teams from AFL, CFL, MLB, MLS, NBA, NFL, NHL, WNBA,
or they must be from the same institution in NCAA sports. Canadian teams are eligible by province.
ASM Baron program offers the following benefits:
- Includes the benefits of Majority Owner status. (*Please
see Majority Owner)
- Barons receive a moniker, or "Forum Badge" beside their profile in
the forums.
- Barons earn a percentage of the ASM commission fees for ALL trades
on their Baron teams. Baron payments are made on the 7th day of every
month. The percentages are as follows:
- 10% if you are a Baron of 2 teams in the same region (i.e. NY
Giants and NY Jets).
- 15% if you are a Baron of 3 teams in the same region (i.e. NY
Giants, NY Jets, and NY Yankees).
- 20% if you are a Baron of 4 teams in the same region (i.e. NY
Giants, NY Jets, NY Yankees, and NY Mets).
- 25% if you are a Baron of 5 or more teams in the same region (i.e.
NY Giants, NY Jets, NY Yankees, NY Mets, and NY Knicks). 25% is the maximum percentage earned
for any baronship per region owned.
Example:
If a trader has a two-team baronship and both teams
currently trade at $15.00(USD) per derivative, then for every trade executed,
the baron makes $3.75(USD) {15 · 1.25/100 · 0.1 · 2 = 3.75
cents}. ASM commissions=1.25/100
(the baron commissions are based on the
ASM portion only, which is 1.25% for each side of the trade). 0.1 is the commission rate (this is because
we assumed there are two teams). It is multiplied by two (2) because every
trade has a buyer and a seller.
Brokers: Brokers are affiliates who brought in 100 depositing traders. They
do not make the markets or exist as 'market
makers'. We currently have 12 different brokers. Brokers sell/buy holdings and earn a
commission from each transaction, up to 1.25% of the transaction (per side), or
25% of the total commission fee for the trade.
How do brokers and
market makers differ? :
Brokers are people who
sell holdings and earn a commission from each transaction. Market Makers are a specialty focused group
of people who have purchased rights to view the current buy/sell orders
pending, and to use other specialized trading tools. This enables them to apply their orders with in-depth information
thus, creating a market in a particular sector.
What is an IPO
Broker? :
IPO brokers
are used to represent the fact that the derivatives are initially released in a
traditional IPO style auction. This
applies to SPO releases as well.
How is your broker
assigned? :
Traders are assigned
randomly to a broker when they create their Sportsfolio trading account. UNLESS
the affiliate referring the trader has earned their own broker symbol. Then all traders referred by that affiliate
are automatically assigned under his/her broker symbol. There are several
different brokers on the exchange including, ACME, EAST, EURO, FLUT, GNGBT,
GOLD, MARL, QUIK, WEST, WWSP, IPO.
Currently there are no
differences between the brokers and buying or selling Sports Derivative using
any one broker will provide no advantages or disadvantages over any other
broker. To find out what broker symbol you
are trading under, simply put up a buy or sell offer from the trade screen and
you will see your buy/sell offer pop up and a broker symbol beside your offer.
Try this a couple of times to confirm that you have not made a mistake. Many traders will be using each broker, so
you cannot identify any one trader by looking at the broker symbol.
Cancellation Fee: There are currently no fees
assessed for canceling orders before they naturally expire. This is subject to change with prior notice
from ASM.
Commissions: When a trade is executed
between a buyer and a seller, each side pays a commission of 5 percent. Half of
this total, 2.5 percent (from each side) is added to the Dividend Reserve for
the derivative just traded. 1.25 percent goes to the brokers, and the remaining
1.25 percent goes to ASM. If the derivative belongs to a baronship program, the
corresponding commission percentage applies from ASM's 1.25 percent.
Example:
Assume that there is a sell order of one derivative
at 10 dollars for Los Angeles Lakers.
A buyer decides to fill that order. The derivative is
transferred from the seller's account to the buyer's account. The cost to the
buyer is 10.5 (Derivative price + 5% commission) and the seller receives 9.50
(Derivative price - 5% commission). The total commission from the trade is 1
dollar. 50 cents are added to the dividend reserve, 25 cents flow to the
brokers and the remaining 25 cents goes to ASM provided that Los Angeles Lakers
does not belong to a baron program.
This is summarized in the table below:
|
Buyer
Seller
Dividend Reserve
Brokers
ASM
|
Cash Flow
-$10.5
$9.5
$0.50
$0.25
$0.25
|
Asset Flow
-1 Derivative
n/a
n/a
n/a
|
Let's assume the Los Angeles Lakers are part of a
four-team baronship. In this case 20% of ASM commission fees will accrue to the
Baron (could be a person or a holding company). The contribution to the
dividend reserve and the broker commissions will be unchanged. Therefore in the
final allocation, the buyer pays 10.5 cents and receives one derivative, the seller
receives 9.50 and foregoes one derivative, the dividend reserve goes up by 50
cents, the brokers earn 25 cents, ASM earns 20 cents, and the baron earns 5
cents. This transaction is also summarized below.
|
Buyer
Seller
Dividend Reserve
Broker
ASM
Baron or HC
|
Money Flow
-$10.5
$9.5
$0.50
$0.25
$0.20
$0.05
|
Asset Flow
+1 Derivative
-1 Derivative
n/a
n/a
n/a
n/a
|
Commission Breaks: In most cases, a 5% commission applies to both buyers
and sellers. However, there are exceptions to this rule. Depending on the
situation, the commissions may be lower, or even zero, with public disclosure.
Market Maker and Broker commission breaks are determined by prior arrangement.
Commission For Trades Within a Holding Company: Members of holding companies may trade commission-free
between themselves, assuming they do not violate ASM "Holding Company Rules".
All commissions on these trades are refunded by ASM at the end of each month.
You must contact help@allsportsmarket.com or submit a
'support ticket' in order to alert them to the trades, which you are seeking
commission re-imbursement for.
Commission Free "It's Your Birthday" Program:
Every trader on ASM gets a
commission-free day on their birthday provided they notified ASM beforehand by
providing the proof necessary.
At its
discretion, ASM can occasionally announce promotional commission rates. If and
when this happens, the terms will be announced in the Read Only Section in our
forum.
Contact Information: If for any reason, you need to get in touch with an
ASM representative, you can use the following email addresses, depending on
your needs. Please expect a response
within 48-72 business hours.
General Help -
help@allsportsmarket.com
Corporate Questions - corporate@allsportsmarket.com
Employment Questions - careers@allsportsmarket.com
Legal Questions - legal@allsportsmarket.com
Technical Questions - tech@allsportsmarket.com
Withdrawal Questions - payments@allsportsmarket.com
Media and Marketing Questions- Carlosd@allsportsmarket.com
You can also get a hold of a live support agent by
utilizing the live support service. To do so, go to Help, then Contact, and
then click on the support agent on the right side of the page. Other methods of
making contact with AllSportsMarket include, click on 'Help' at the top of the
screen then
Click 'Contact Us' and submit a 'Support Ticket'.
International Phone Number: (866)-468-8036 (Toll
Free)
United States Fax Number: (800)-507-5619 (U.S. only)
ADDRESS:
Soluciones Globales Optimas,
S.A.
Plaza Colonial Oficina
#2-15
San Rafael, Escazu
Costa Rica
Soluciones Globales
Optimas, S.A.
56 Gloucester Road
Kensington,
London SW7 4UB, Great Britain
Contests:
Periodically, ASM will hold contests and
polls for the traders. Traders on ASM are also allowed to hold contests
provided that they have corporate approval. If and when there is a contest, the
terms and conditions will be announced in the forums.
Corporate Ownership: AllSportsMarket.com is represented by 100,000,000 (100
million) corporate derivatives. 4% of which traded on the ASM exchange under
the symbol ASMA1. AllSportsMarket.com
is the first company to internally provide a liquid market for its pre-IPO
private placement derivatives.
The outstanding 96% of derivatives is held by company
executives or reserved for future partners.
Prior to IPO ASMA1 will be exchanged 1 to 1 for derivatives in the
entity going public. The first reported
period was Q1 2006 (January 1, 2006 - March 31, 2006). The reporting was completed
on or before April 30, 2006 declaring dividends payable on May 31, 2006. ASMA1 will stop trading on ASM Midnight
December 31st, 2006 (EST).
After this date shareholders will be issued stock certificates to place
with a broker prior to IPO.
Note: For more information please visit the AllSportsMarket.com Private Placement to Public IPO
Notices thread:
http://www.allsportsmarket.com/forums/Forum_Frame.asp?FID=28&MID=42531&FName=Important+ASM+Announcements+%28READ+ONLY%29
Deposits:
If you choose to make a deposit at
AllSportsMarket.com, you have several different options to choose from. If you
go to "My Account", and choose "Deposit Funds", you will see a list of deposit
methods. These include but are not limited to:
Credit Card: Visa,
American Express, and Eurocard are accepted. There is no transaction fee
regardless of amount.
MoneyBookers: Please
contact live help or email help@allsportsmarket.com in order to complete a
deposit through MoneyBookers.com
E-Gold: Please
contact live help or email help@allsportsmarket.com in order to complete a
deposit through E-Gold.
Western Union: Please
contact live help or email help@allsportsmarket.com in order to complete a
deposit through Western Union.
Bank Wire: All
inbound wires over $1,000 will be credited up to $35 in cash to cover wire
fees.
Note: ASM continuously emplaces the best security
measures to prevent fraud it possibly can.
1. If you are depositing using a credit card, the
maximum amount for a single transaction is $1,000 USD.
2. You will not be able to make another deposit until
your previous deposit(s) clear, regardless of the amount. Therefore, you may
experience some lags when you make multiple deposits. This applies even if you
use the same credit card for your deposits.
Dividends:
A dividend is a payment given to the
derivative holder from the Dividend Reserve.
Quarterly payments are given according to a league-specific
schedule. A Divided Reserve will increase
as a result of any of the following:
- Before any IPO, ASM will fund the Dividend Reserve account. The
exact amount will be announced in the forums before the IPO takes place.
- When a trade is executed between a buyer and a seller, each side
pays a commission of 5 percent. Half of that, 2.5 percent (for each side)
is added to the Dividend Reserve.
- When any sporting event takes place, a certain percentage of the
Dividend Reserve is transferred to the winning (better performing) teams
or players. This is called a dividend transfer. A detailed outline of this
procedure can be found in the "Dividend Transfers and Payouts" section
below.
- Dividends that accumulate in Dividend Reserves are then paid out
quarterly as well as according to a league specific schedule. The details
of this payout procedure can also be found in the "Dividend Transfers and
Payouts" section below.
Note: Also see "Unlisted Teams"
IMPORTANT:
Effective January 2007 all payouts will be 5% and the quarterly payouts will be
10%.
Dividend Transfers and Payouts: There
are three main dividend protocols: Field Dividend Protocol, Normal Schedule
Dividend Protocol, and Heavy Schedule Dividend Protocol. All leagues are
characterized by one of these three protocols, which are explained in detail
below.
Field Dividend Protocol
Leagues covered:
PGA
EURO PGA
TENNIS - MEN'S
TENNIS - WOMEN
JOCKEYS
NASCAR NEXTEL
BUSCH SERIES
FORMULA 1
INDY CAR RACING
A sliding scale will be utilized for dividend
transfer purposes in field sports. This method accomplishes the idea of
rewarding performing issues on an event (and not published rank) basis.
1. The field dividend sliding scale is explained as
follows:
In field sports, there is a sliding dividend transfer
percentage between 20% and 61% that will be used based on the number of listed
issues in the event. The runner-up will lose 20% from dividend reserve and each
position below will increase 1%. Thus, if 43 listed cars/players are entered in
the event, then the last position would lose 61% via dividend transfer. If there are more than 43 players then it
can lose up to 75%, which is the maximum from the dividend reserve. Ties are decided by their league ranking.
Example:
1st: NO transfer
2nd: 20% loss of retained earning in dividend
transfer
3rd: 21% loss of retained
earning in dividend transfer
4th: 22% loss of retained earning in dividend
transfer
...
42nd: 60% loss of retained earning in dividend
transfer
43rd: 61% loss of retained earning in dividend
transfer
When the event is over, the dividend transfers &
payments start at last place and move up. When an issue loses retained earning
via dividend transfer, the transfer amount is divided by the number of listed
issues that finished above it, and added to their dividend reserve.
2. At each level, the payment will be 25% to present
holders leaving 75% in the Dividend Reserve.
4. Quarterly payments of 25% of the Dividend Reserve
will be issued:
a. March 31
b. June 30
c. September 30
d. December 31
Normal Schedule Dividend Protocol
Leagues covered:
FIFA
Soccer Brazil D1
Soccer Argentina D1
Soccer Portugal D1
Soccer France D1
Soccer Belgium D1
Soccer Mexico D1
Soccer Holland D1
Soccer Germany D1
Soccer UK PR
Soccer Scotland PR
Soccer Greece
Soccer Italy
Soccer Turkey
Soccer MLS
Soccer Spain
Soccer Costa Rica D1
Soccer Finland D1
Soccer Republic of Ireland D1
Soccer Sweden D1
Soccer Australia A-League
Soccer Croatia D1
Soccer Czech Republic D1
Soccer Austria D1
Soccer Denmark D1
Soccer Finland D1
Soccer Iceland Premier League
Soccer Ireland Republic Premier League
Soccer Norway D1
CFL (Canadian Football League)
NFL (National Football League)
NFL Europe
AUSSIE FOOTBALL
- Quarterly payments of 25% of the Dividend Reserve will be issued:
a. March 31
b. June 30
c. September 30
d. December 31
Heavy Schedule Dividend Protocol
Leagues covered:
NCAAF
NHL
NBA
WNBA
NCAAB MEN's
NCAAB WOMENs
MLB
NCAA Baseball
Canada Professional Soccer League
Celtic Rugby League
Guinness Rugby League
1. Winning teams will transfer 50% of a losing team's
Dividend Reserve no matter the rank. 5% of the resulting sum will be paid to
holders when official results are posted. 95% will remain in the Dividend
Reserve. Losing teams will not receive a dividend for that match.
2. Quarterly payments from the Dividend Reserve will
be issued:
a. March 31
b. June 30
c. September 30
- The derivative may split. In that case the new float will be twice
the pre-split float plus ten percent of the pre-split float. The
additional ten percent is only for the first 10 "natural" splits. Example: If
the pre-split float is 400, and the derivative splits, the new float will
be 840. new float = 2· old float + 10% of old float = 2 · 400 + 10/100 · 400 =
840
- ASM and a partner may reach agreement to float more. In this case,
the new funds will flow to the league, team or player under a set
agreement. This can happen more than once. You can find out the float of any team by looking at its
Sports Derivative profile page.
Forum Code of Conduct: Reminder:
Please read our Terms of Service. Messages that harass, abuse, or threaten
other members; have obscene or otherwise objectionable content; have spam,
commercial or advertising content or links may be removed and may result in the
loss of your ASM Forum posting rights. Please do NOT post any private information (including your email address).
Never assume that you are completely anonymous and cannot be identified by your
posts.
The ASM Forum is provided as an on-line
community center for the exchange of ideas and non-personal communication
between ASM Traders. There is an Announcement Only section used by ASM staff to
inform and update the trader base of changes. Any forum posts other than those
made by ASM Staff are at the sole discretion of the poster. The views you read
here are not those of ASM and are the sole view of the poster. Any advice given
or taken on the ASM Forum, on Sport Derivative Contract trading, is not provided
by ASM nor should it be seen as a professional level recommendation.
ASM would like to remind you that this is an open forum format frequented by
posters from all walks of life with various degrees of education, professional
backgrounds, and personal philosophies; as such you may find it difficult at
times to locate information of value or interest. There is a Most Recent post
feature and Search feature to help you locate topics of interest quickly. You
will also find topics considered important by ASM in the Announcement Only
section as well as "paper clipped" in the forum threads. "Paper
clipped" topics will have a red paper clip image next to them.
If you find any material here to be abusive or disturbing please report it to help@allsportsmarket.com.
1.
Advertising of bid and
sell offers in the forums is prohibited; if you wish to discuss your bids and
offers privately, there is nothing ASM can or will do.
2.
Before posting anywhere
in the forums, you need to consider your comments and the overall effect they may have on
the entire ASM community.
Posts that are inflammatory or injurious to players
or ASM in general will not be tolerated. Furthermore, the use of profanity
and/or displaces of racism, sexism, the discrimination or abuse based on life
choices will not be tolerated and is subject to legal prosecution where
applicable.
There will be public censure of these posts and the
following penalties will be applied past the first warning:
Second warning: $100 fine and censure
Third warning: $250 fine and censure
Fourth warning: Permanent ban, computer, modem &
IP block
Posting of email addresses is prohibited. If you
would like someone to contact you, you must have previous authorization from
the person you wish to contact via the forums or by direct contact with our
Support Agents or use the Chat Room features of the site.
Holding Companies: A holding company is a group of 2 or 3
people who can obtain a majority ownership of a Sports Derivative (or multiple
Sports Derivatives). A holding company is subject to the following rules:
- There is a $50 fee per player to create a Holding Company. This fee
will recur on an annual basis.
- Each partner should email help@allsportsmarket.com authorizing ASM
to withdraw the $50 yearly fee
and one of the partners should submit a holding company name and logo
(optional). Once the holding company is formed, you will see your holding
company information show up under My Account −> Ownership.
- There is a 5-day wait period for establishing or dissolving a
Holding Company. A public page may list the status of all Holding
Companies in their wait periods along with the nicknames of the members
involved. Your Holding Company may be publicly listed during the wait
period.
- Traders can join as many holding companies as they want.
- There is no fee to dissolve a Holding Company. If a single member
wishes to no longer participate, they may withdraw from the Holding
Company and the two remaining members may maintain the Holding
Company. If only one member
remains, then the entire Holding Company will be dissolved. A member cannot be "kicked out" of a
Holding Company, however, two members may withdraw, thereby dissolving the
Holding Company, and then recreating it via a new creation application.
The same name can be used again once it has been dissolved.
- Should the holding company pursue a majority ownership, the sum of
the individual holdings should be more than the half of the float.
- Should the holding company have a baronship, the affiliate
commissions will be split equally between the members regardless of the
distribution of the derivatives across the members of the Holding Company.
Other revenues, such as dividends and capital gains from selling, will
remain unaffected; each individual will collect the said revenues based on
his/her holdings.
Example:
Assume that trader A and trader B obtained the
majority of Colorado Crush (float:400) and Denver Broncos (float:1000), two
major league teams in Colorado, for baron purposes.
Their hypothetical current holdings are as shown
below:
|
|
Crush
|
Broncos
|
|
Trader A
Trader B
|
150
|
600
500
|
Trader A and B come together, each pay $50, and they
form a holding company.
Assume that over the next year, Crush and Broncos pay
out 5 dollars and 4 dollars per share in dividends, respectively. Furthermore
assume that trader A sells 20 Crush derivative contracts at $20 dollars at the
end of the year after all the dividends are received, and total baron commissions
amount to $400. This is summarized in the table below:
|
|
HC fee
|
Dividends
|
Sell Revenue
|
Baron Commissions
|
|
|
Trader A
|
-$50
|
$750 + $2400 =
$3150
|
$400
|
$200
|
$3700
|
|
Trader B
|
-$50
|
$500 + $2000 =
$2500
|
N/A
|
$200
|
$2650
|
- Trades of any Sports Derivative made between members of a
Holding Company will occur "off the books", and with no commission fees.
- If a derivative owned by a holding company splits, the usual
majority ownership rules apply. The holding company members decide how the
free derivatives will be distributed across themselves. Once the members
agree on the distribution, they can submit it to ASM by using the
"Ownership" screen.
- Private chat and message
board for members of individual Holding Companies coming soon!
Initial Public Offering (IPO): IPO refers to the process of releasing derivatives of
new teams/players. IPO's have never been owned by any traders before. You will
know whether a derivative is an IPO or not because instead of a broker symbol,
you will see "IPO" where the broker symbol is normally shown. All Sports
Derivatives traded at AllSportsMarket began through an IPO'. IPO's are released
to the market at a price set by ASM's IPO brokers. They are released in blocks
and each block is released at an equal or greater price than the previous
blocks. There is no set amount for increase of these blocks; the IPO broker
will make the decision based on market conditions. The funds from an IPO
release flow to ASM, to the league/team/player, or a combination, depending on
the partnership agreement at the time of the IPO.
An IPO can take place as a result of the following:
- ASM Decision: ASM retains
the right to release new leagues/teams/players at its discretion.
- Forum Voting: Occasionally,
some previously not released teams might be requested by traders. If a
consensus is established by voting in the forums, an IPO will take place
for the requested team/player.
- Expansion Teams: An
expansion team is a brand new franchise that decided to participate in a
major league. This is a phenomenon mostly seen in North American leagues;
recent examples are Charlotte Bobcats (NBA, 2004), Chivas USA (MLS, 2005)
and Chicago Sky (WNBA, 2006). If an expansion team is scheduled to begin
play in a league that is already released by ASM, an IPO will take place
for the expansion team.
- Promoted teams: If a team
that is not trading on ASM is transferred from a lower league to a higher
league (promotion) and the higher league is already released, a new IPO
will take place for the promoted
+0.06 ~196
-0.05 ~114
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