3 hours ago
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One of LeBron James’ business partners is advising a group of investors interested in trying to form an international basketball league to compete with the NBA.
A report from Bloomberg linked Maverick Carter to the group looking to raise $5 billion from private capital sources.
UBS Group AG and Evercore Inc. are involved in helping raise funds.
The league would be made up of six men’s and women’s teams and games would be played in eight cities globally.
The league would spend two weeks in each city and would be shaped similarly to the way Formula 1 operates with races in various cities during its racing season, Bloomberg reported.
Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett and the investment firm SC Holdings were also linked as backers of the potential league.
Front Office Sports confirmed the Bloomberg report, adding that James is not part of the effort.
It’s unclear if or when the potential league would be unveiled.
James and Carter are childhood friends who co-founded The SpringHill Company in 2020.
The duo launched the UNINTERRUPTED brand together as well.
English (US)