Twenty-eight years to the day after the launch of ESPN (NYSE: DIS), Bill Rasmussen has launched another service based on the hope that sports fans equal money. CollegeFanz.com (beta, of course) is just what it says: a site aimed squarely at college students and alums.  The enterprise is being back by PE firm The Musser Group to the tune of $500,000-$1 million, according to a spokesperson.  Release.

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Distribution should be easier this time around—no cable deals needed, all D2C—but the market he’s trying to tap into is far more crowded. So far, I have yet to see anything that makes it stand out from various college sports sites or the college areas within major sports destinations aside from the virtual campus that takes a while to load even on a fast connection and Rasmussen’s involvement. Features include the now-expected social networking, scores, college sports info. And, yes, there already is a CollegeFans.com, a shopping site run an ISP likely to see a boost in traffic from people spelling the new site wrong.