From the press release:
...And when his high school arch nemesis (with a 20-year-old grudge and a tangerine spray tan) threatens to foreclose on their house, this big-shot banker must save his small-town home the only way he can... by winning The Battle of the Bands.
So he dusts off his guitar, gathers his old gang (the math teacher who isn't good at math, the Irish cop who dreams about being on Broadway, the dermatologist who can't get a date, and a 16-year-old Jewish rapper who makes Vanilla Ice look cool), and sets out to win the battle... and maybe even win back the high school sweetheart he left behind... proving it's never too late to give your dreams one last shot.
This might be just about the worst premise for a musical that I have ever heard. Then again, John Rando also brought us Urinetown so maybe this is one of those "ridiculous on purpose" kind of shows?