I quite like the type. I think it will appeal to the demographic. Maybe try adjusting the tips of the "H" and "P" to be less angular and more like the "O"s.
Also, the H and P's tips might be too high considering there location. I might shave a bit off them too see what it looks like.
How 'bout setting "FX" onto basketball's spherical surface? Perhaps rebounding off the "backboard" of one of the "O"s?
Good start.