* William Mayer latest investor in startup NFL rival
* Mayer co-founder of firm that invests in mid-mkt cos
* UFL slated to kick off season in October
By Ben Klayman
CHICAGO, June 8 (Reuters) - The United Football League named
on Monday the former head of First Boston Corp as the owner of
its New York team, ahead of the American football league's
October launch.
William Mayer, co-founder of Park Avenue Equity Partners, is
the latest investor and owner in the smaller rival of the
National Football League that is scheduled to begin play with
four teams playing in seven cities.
The league announced in February plans to kick off its
inaugural season with a smaller slate of teams -- it had
initially targeted six to eight teams -- due to the U.S.
recession.
"Bill's business acumen and leadership skills will be an
incredible resource to the league and the New York team," UFL
Commissioner Michael Huyghue said in a statement.
Mayer has been involved in private equity investing for more
than 35 years, including 23 years at the former investment bank
First Boston Corp, where he was chief executive. He also was
dean of the College of Business at the University of Maryland
from 1992 through 1996.
Mayer is a board member of BlackRock Kelso (BKCC.O) and Lee
Enterprises (LEE.N).
Park Avenue Equity Partners is a New York private equity
firm focused on investing in middle-market companies. It has
invested about $340 million since its founding in 1999,
according to the firm's website.
The Park Avenue Equity Partners portfolio includes financial
services firm W.R. Hambrecht + Co, whose CEO, William Hambrecht,
founded the UFL, according to Park Avenue's website.
"Affordable and accessible entertainment is paramount in
today's economic climate and this is what the UFL is offering,"
Mayer said. "Having worked with Bill Hambrecht for many years
and even housing the league offices in its infancy, I knew the
United Football League was a fiscally sound investment and one
that showed great potential."
Other UFL investors, who are putting a combined $30 million
into the league, include Google (GOOG.O) executive Tim Armstrong
and Paul Pelosi, the husband of Nancy Pelosi, speaker of the
U.S. House of Representatives.
The UFL is the latest in a series of leagues to compete with
the NFL since the 1970s. Its predecessors -- the World Football
League, the United States Football League and, most recently,
the XFL -- all failed.
However, UFL officials have vowed not to overspend or set
unrealistic expectations -- mistakes of past NFL rivals. Huyghue
said the UFL will complement the NFL and not try to compete for
top players.
UFL games will air on Versus, a Comcast (CMCSA.O)-owned
network, and will take place primarily on Thursday evenings. The
season will end with a championship game over Thanksgiving
weekend.
The initial UFL teams include New York/Hartford,
Connecticut; Las Vegas/Los Angeles; San Francisco/Sacramento,
California; and Orlando, Florida. Huyghue previously said the
league will expand by at least two to four teams in 2010.
(Reporting by Ben Klayman, editing by Matthew Lewis)
