The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

Investors pitch new international basketball league that would offer players equity

by admin January 18, 2025
January 18, 2025
Investors pitch new international basketball league that would offer players equity

A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter.

The new organization would offer players equity, those people said.

The investors aim to raise $5 billion for the league, which could serve as a rival to the NBA if it can offer big-money deals to players, similar to how LIV Golf lured away PGA Tour players.

It’s unclear which players the league would target or when it could start.

Maverick Carter, LeBron James’ longtime friend and business partner, is advising a group that includes investment firm SC Holdings’ Jason Stein and Daniel Haimovic, Skype co-founder Geoff Prentice and former Facebook executive Grady Burnett.

A representative for James said he is not involved in the effort and declined to comment on whether the Los Angeles Lakers star has been approached to participate.

The group is working with UBS and Evercore to help raise the money, which is expected to come from a mix of sovereign wealth funds, institutional investors and wealthy individuals, the people said.

The unnamed league is expected to play games in eight cities around the world, spending two weeks in each city, following a model similar to Formula 1. The league will consist of 12 teams — six men’s and six women’s teams.

Singapore is one of the markets where games will take place, the people said. It’s unclear what the other seven markets will be.

Representatives for the NBA didn’t immediately respond to a request for comment.

But a source familiar said they were not aware of the plan for the league before reports about it emerged Wednesday. Bloomberg first reported the news.

In recent years, the NBA has ramped up its international presence, with a league in Africa and games abroad ranging from China to the UAE, Mexico City and Paris. The league also had a record-tying 125 international players tip off in the 2024 season.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Vanguard fined more than $100 million by SEC over violations involving target date retirement funds
next post
6 Mining Companies Make Top 20 on 2025 OTCQX Best 50 List

Related Posts

What to expect as the Fed prepares its...

December 13, 2023

Capital One-Discover merger could put a bigger squeeze...

February 22, 2024

Elon Musk says backlash against his DOGE government...

April 2, 2025

See inside Ford’s new tech campus, a century-old...

June 5, 2024

As inflation cools, Social Security could pay out...

July 13, 2024

How a single failure can take down a...

July 21, 2024

Tesla denies report that the EV maker is...

May 2, 2025

Amazon sued by D.C. AG for allegedly excluding...

December 5, 2024

After success in Paris, Los Angeles looks to...

September 13, 2024

McDonald’s preparing a 2025 ‘McValue’ offering

November 22, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,432)
    • Investing (3,523)
    • Politics (4,756)
    • World (4,659)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved