A group of investors, advised by Maverick Carter – business partner of Los Angeles Lakers star LeBron James – is aiming to raise $5bn from private capital to establish a global basketball league that could compete with the NBA, according to a report by Bloomberg citing sources familiar with the matter.
UBS Group AG and Evercore have been engaged to assist with the fundraising, targeting contributions from wealthy individuals and institutional investors, including sovereign wealth funds, said the unnamed sources.
Additional backers include Skype Co-Founder Geoff Prentice, former Facebook Executive Grady Burnett, and the investment firm SC Holdings, led by Co-Founders Jason Stein and Daniel Haimovic.
The proposed league would feature six men’s and six women’s teams, playing in eight cities worldwide on a rotating schedule, with two weeks of games hosted in each location. Modeled after Formula 1’s global format, Singapore is among the potential host cities, according to the sources.
However, the venture faces steep challenges. Similar efforts to rival established sports leagues, such as the NFL and various domestic basketball leagues in Europe and Asia, have struggled to gain traction. The NBA’s enduring popularity, especially after its return to China, the world’s second-largest economy, further underscores the difficulty of competing for attention and market share.
Since facing tensions with China’s government in 2019, the NBA has expanded its international footprint elsewhere, including in-season games in Paris and preseason matchups in Abu Dhabi, as part of its third annual visit to the UAE capital. Bloomberg News previously reported that the NBA is exploring the possibility of opening a regional office in the Middle East, one of the few regions without an NBA presence.
Meanwhile, the market for live sports streaming is booming, particularly across Asia. Local platforms have invested heavily in broadcast rights for Western leagues like Major League Baseball (MLB) and the English Premier League, while homegrown sports such as Indian cricket and South Korea’s pro baseball league drive significant advertising and merchandise revenue.
Major sports organisations, including the NBA and MLB, have capitalised on Asia’s growing appetite for sports, with showcase events like the LA Dodgers’ visit and appearances by Japanese superstar Shohei Ohtani. Similarly, European soccer clubs are increasing international matches, and the NFL continues to expand its overseas games.
