NBA Europe: Sovereign Wealth Funds and Family Offices in Talks

NBA Europe attracting diverse investors

NBA Commissioner Adam⁣ Silver ​says the​ league⁣ is attracting interest from a ‌wide​ range of potential investors for its planned‍ European expansion, ‌including sovereign wealth funds, family offices, and private equity firms. He​ highlighted the⁤ success of sovereign wealth fund ownership,⁢ citing Paris Saint-germain⁤ (PSG) ‍as an example.

“I would say, with an opportunity to begin a league from scratch, we’re taking a fresh look.We⁢ can see,for example,on PSG,where there’s already been success ​of⁢ sovereign wealth funds who own and operate teams,and I think there’s different traditions that have grown up here.”

Family offices eye ​teams in NBA Europe

Saudi Arabia has ⁤been ⁣rumoured⁣ to be ⁢interested⁢ in investing in a team⁤ in London, which, with Manchester, has‍ been ⁣earmarked for a franchise in NBA Europe, a‍ semi-open 16-team league slated to start⁣ next year.

Prominent US family offices, such as those owned by Mark ⁢Walter, Stan‍ Kroenke and the Glazer family,⁤ already own⁢ Premier ‌League football⁣ teams – ‌Chelsea, Arsenal and manchester United respectively.

“We’re talking to‍ families ​that currently invest in sports, some⁢ who have not⁢ had the tradition of investing,” Silver added.

“In addition to talking to sovereign wealth funds,‍ there’s ‍more⁤ traditional investment funds that have had some experience investing in sports, and then some more traditional private equity funds‍ that see sports as an asset⁢ class.”

2027​ start⁢ ‘ambitious’ but ‘doable’

Echoing⁤ comments made earlier this week in Berlin, Silver stressed that NBA Europe was a‍ “once in forever” opportunity and ⁢would require patient⁣ investors who agree to reinvest⁣ any⁣ profits into growing ⁣European basketball.

He acknowledged that launching ⁤the league ⁣in late 2027 was an “ambitious” target but ⁢ “doable” and said the NBA was “where ⁤we thought we‌ would be at ⁢this point”.