Thu, 16 Jan 2025

Investors pitch new international basketball league that would offer players equity

The investors are looking to raise $5 billion to start a basketball league that could offer players equity to potentially lure them away from the NBA.

* A group of high-powered investors aims to raise $5 billion to form a new international basketball league.
* The league would offer players equity in the organization.
* The investors include Maverick Carter, LeBron James' friend and business partner, as well as others with ties to sports and finance.
* The league plans to consist of 12 teams, six men's and six women's teams, and will play games in eight cities around the world.
* Singapore is confirmed to be one of the markets where games will take place.
* The new league would serve as a potential rival to the NBA.
* The investors are working with UBS and Evercore to raise funding from sovereign wealth funds, institutional investors, and wealthy individuals.
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