[polkaface]

I think it has potential. The biggest problem is going to be in finding players right away to give it viability early.

As mentioned in the story, they feel they will be able to pay the 2nd through 7th rounders more than the NFL could. So it would seem that some of these players might be better off going to this new league.

Right now you would have Troy Smith, Michael Bush and Steve Breaston trying to figure out if they would rather get paid a small signing bonus with the chance of making the team or be on a team, starting and starring and guaranteed to make more than they would in the NFL (by the story's accounts).
But it would take about 3 seasons (in my opinion) before you got a good depth in the league even with only 8 teams to start.

I think the idea of an IPO to generate fan interest and loyalty is a unique and novel idea. I am guessing Sickboy isn't far off and you will find some programming to try and trump up the teams as the league comes closer to starting (as that would be the very smart thing to do).

Finally, I would venture a guess to say that along with a 2nd rate cable network to get the TV rights running would be Cuban's HDNET for the 2nd best game of the week.