The race is on to capitalize on the popularity of U.S. sports entities in overseas markets. A meeting last week in France between LeBron James, his business partner, Maverick Carter, and the agent for NBA star Nikola Jokić has rekindled talk of a new basketball league that could rival the NBA.
Who are the new league’s reported investors?
The possibility of the new international league, which is in the process of raising $5 billion from investors, was first reported by Bloomberg in January. Carter has been spearheading the venture, securing funding from SC Holdings, Saudi Arabia’s Public Investment Fund, UBS, Skype founder Geoff Prentice and the government of Singapore, among others, according to the Financial Times.
The league’s plan is to have a touring model with six men’s and six women’s teams playing in eight cities around the world, using a schedule much like Formula One racing or LIV Golf. The teams would stay in one location for several days or longer and compete in multiple games. Singapore is reportedly one of the locations.
The league would likely overlap with the NBA calendar, according to reports, and start in the fall of 2026, at which point James and other NBA stars would be free agents and could jump to the new venture.
The 40-year-old James is reaching the end of his NBA career, though he recently exercised his $52.6 million player option to stay with the Los Angeles Lakers for what would be a record 23rd NBA season. Forbes reports James’ net worth is $1.2 billion with stakes in several pro franchises outside the NBA. He and Carter have known each other since grade school.
Has the NBA responded to the possibility of a new league?
The NBA is considering a new European league. Their model would be based in European cities and follow a regular league format as opposed to traveling globally for weeks at a time. NBA Commissioner Adam Silver and other league officials met in January with the International Basketball Federation and its potential partners during the Paris Games.
“While Europe continues to develop some of the very best players in the world — many of our most recent MVPs, of course, are European — we think that the commercial opportunity has not kept pace with the growth of the game,” Silver said while in Paris.
Silver said the NBA is “ready to go to the next stage” and explore that European venture during the Board of Governors meeting in March. He, along with Deputy Commissioner Mark Tatum, met Wednesday with U.K. Prime Minister Keir Starmer as part of a trip to meet potential stakeholders.
How could the new league change how business is done?
The NBA’s process in Europe may have been accelerated by rumors of competition from James and his group. According to reports, the new traveling league could give participating players league equity, something the NBA has never considered.
That perk has been used by Unrivaled, a 3-on-3 basketball league founded earlier this year by WNBA stars Breanna Stewart and Napheesa Collier. The league’s first season was a success, and although it does not conflict with the WNBA calendar, it is widely seen as competition that could push the league to change the way it does business.
Along with the NBA, Major League Baseball and the NFL have recently announced more showcase events in cities around the world to build on their popularity and attract new fans.
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Author: Chris Francis
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