I can see the players doing a bunch of exhibition benefits but creating their own league?
That's a huge undertaking and who exactly would organize it? The players themselves? You'd have to think they'd have to bring in people to get something like that up & running. The question is who would that be.
Extreme longshot at best, IMO.
Definitely a longggggg shot, but it's an interesting idea.
The players would need some financial backing, but a problem there (despite there being a limited number of billionares

), is alot of the good financial backers are already taken.
Michael Jordan. He would be great as an investor in a new league, since he's pretty much the face of basketball (like Mikan was with the ABA). Too bad he's already an NBA owner. Lesser extent with Magic and Bird.
Mark Cuban. A great owner for any sport, but he's not going to compete with himself.
Paul Allen. Mark Cuban without the personality.
The Russian owner of the Nets. Seems like the foreign version of Mark Cuban.
Robert Johnson. (First black billionare?). He already did the NBA thing though.
Jay-Z. Turning himself into a legitimate business man, and a guy the majoritiy of the players would want to associate with (would you rather work for Jay-Z or just about any of the other 30 owners).
You need some powerful guys willing to invest that command attention. Larry Ellison seems like a good one(or he is associated with the Warriors?), Russell Simmons (more money than Jay-Z, just as hip-hop, but not as cool to the current players). Spike Lee (not enough money). Bill Gates and Warren Buffett don't seem like the type. Who's the Europe racecar guy who bought his daughter like a $100 million house here? Get him and a few other foreign billionaires. Maybe get some super sports agents: David Falk, Scott Boras, they know the system and how the money works (there's really only a few agents/agencies that handle like 90% of the players). A media mogul like Rupert Murdock (and he's perfect since Fox is like the only major network that has never had NBA basketball, but is into sports). Donald Trump like Chris mentioned. Steven Spielberg (and some plugs in his movies would help too). A few major investors could scare the league.
Maybe with some serious financial backing you could get a league, but not a 30-team league so a lot of players would be out of a job.
Fun to think about, but wouldn't happen (although I wish it would). I do read about the NBA/ABA wars and think how cool that would have been to experience as a fan (especially in today's world).