A consortium of investors, led by Maverick Carter and advised by UBS Group AG and Evercore, is seeking to raise $5bn to launch a global basketball league.
The league will feature six men’s and six women’s teams playing in eight cities worldwide. Singapore is one of the potential host cities, according to sources.
The backers include Skype Co-Founder Geoff Prentice, former Facebook Executive Grady Burnett, and SC Holdings, led by Jason Stein and Daniel Haimovic. Inspired by Formula 1, the league’s rotating schedule aims to build a global fan base.
However, the venture faces challenges. Competing with the NBA, which dominates the market and has expanded internationally, will be difficult. Recently, the NBA held games in Paris and Abu Dhabi and is considering opening a Middle East office.
Meanwhile, live sports streaming is booming in Asia. Local platforms are investing heavily in Western leagues like MLB and the English Premier League. Homegrown sports, such as Indian cricket and South Korea’s baseball league, also drive significant revenue.
This ambitious plan reflects the growing demand for innovation in sports. If successful, the league could reshape basketball’s global appeal and provide new opportunities for players and fans.
Source: Private Equity Wire
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