 Coburn, who had just sold his stake in the World Hockey Association's New England Whalers, later fleshed out the composition of the league which would contain teams in Barcelona, Madrid, Brussels, Geneva, The Hague, Munich, Rome and a team shared between Lyon and Grenoble.The league was to have American-European ownership though in effect most of the investors (such as the Development Company of Monroe, Louisiana for the Geneva franchise) would be American.Each franchise cost $60,000 and Coburn warned investors they should be prepared to lose money for the first two years.