Growing Interest for International Ownership in the NBA
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00:00 Sports Press, Rick Harrell, your Daily Numbers game.
00:02 Well, a harmless set of exhibition games between the Minnesota Timberwolves and the Dallas
00:06 Mavericks in Abu Dhabi means much more than just those games.
00:11 The NBA simultaneously said that sovereign wealth funds might be able to buy pieces not
00:17 controlled of NBA franchises.
00:19 A 5% stake in the Washington Wizards' parent, Monumental Sports, has been bought by the
00:27 Qatar Investment Authority and more is on the horizon.
00:31 The opportunity for the Abu Dhabi fund, which owns pieces of Man City and otherwise, to
00:37 get involved, this is a showcasing.
00:39 But also, the Golden State Warriors' 10% stake at $700 million seems to be up for sale, they
00:46 say.
00:47 New access to capital, new wealth opportunities, increased value of franchises, all in the
00:54 cards over time and the NBA seems to be moving in the direction of that.