A group of investors, advised by Maverick Carter, a business partner of Los Angeles Lakers star LeBron James, is aiming to raise $5 billion to establish a new international basketball league that could rival the NBA. The investors are seeking private capital from wealthy individuals and institutional sources, including sovereign wealth funds, according to sources familiar with the matter.
UBS Group AG and Evercore Inc have been enlisted to help with fundraising. Other key backers include Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett, and the investment firm SC Holdings, led by Jason Stein and Daniel Haimovic.
Representatives for Carter, UBS, SC Holdings, Prentice, and Burnett declined to comment. Evercore did not respond to requests for comment.
The proposed league would feature six men’s and six women’s teams, with games held in eight cities worldwide. Each city would host two-week events, modeled after the global rotation seen in Formula 1 racing. Singapore is among the cities where games would be played.
However, the new league faces significant hurdles. Previous efforts by startups attempting to compete with major leagues like the NFL, as well as domestic basketball leagues in Europe and Asia, have struggled to gain traction.
The initiative follows the NBA’s renewed push into China, which has reignited interest in basketball in the world’s second-largest economy. Despite this, the NBA’s established popularity in China and other markets makes it difficult for any new league to compete for global attention.
Since its conflict with the Chinese government in 2019, the NBA has focused on expanding internationally. The league has hosted games in Paris since 2020 and played preseason matches in Abu Dhabi in October as part of its ongoing global outreach. The NBA is also considering opening a regional office in the Middle East, an area where it currently has no physical presence.
The market for live sports streaming is growing rapidly, especially in Asia, where broadcasters have invested heavily in licenses for Western leagues like Major League Baseball and the English Premier League. Local sports, such as Indian cricket and South Korea’s professional baseball league, have also boosted advertising and merchandise sales.
The NBA, MLB, and football clubs have capitalized on this expansion by holding showcase games in Asia. The NFL is also increasing its international presence with games played outside the United States.
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