Rumors

Ex-Grizzlies player Andrew Harrison signed with Qatari team Al-Arabi SC for the remainder of the 2024-25 season.

HoopsHype

While in Paris last month for both Spurs-Pacers tilts, Silver attended soccer giant Paris-Saint Germain’s Champions League match against Manchester City and met with PSG’s top officials about potentially being involved in the new basketball league. One top European basketball source said PSG is interested. The city’s soccer conglomerate is owned by Qatari government-backed Qatar Sports Investments, is worth $4.2 billion and has unmatched brand recognition in France. By comparison, Paris Basketball’s budget for the 2024-25 season is $20 million, according to publicly available data.

New York Times

Former Wizards player Chris Singleton signed with Qatari team Al-Gharafa SC for the remainder of the 2023-24 season.

HoopsHype

Former Bulls player Walt Lemon signed with Qatari team Al-Arabi SC for the remainder of the 2023-24 season.

HoopsHype

Mike Vorkunov: Sale of a minority stake in Monumental Sports — owners of the Wizards, Mystics, and Capitals — to Qatari Investment Authority, a Qatari sovereign wealth fund, officially went thru Monday. First of its kind. QIA also owns real estate in DC near their arena.

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Nets Daily: From League source re Qataris buying a stake in Monument Sports, parent of Wizards, Capitals, Mystics: "the first of many."

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Jeff Zillgitt: NBA on Qatari Investment Authority potentially buying small percent of Monumental Sports/Wizards:

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The Qatar Investment Authority is buying a passive minority stake in Washington Wizards and Capitals parent Monumental Sports & Entertainment, according to multiple people familiar with the details. It marks the first time a sovereign fund has invested in major U.S. team sports.

Sportico

QIA, as the Qatari state fund is known, is buying about 5% of Monumental, which includes the WNBA’s Washington Mystics, Capital One Arena and NBC Sports Washington, according to one of the people, who was granted anonymity because the details are private. The deal values the group at $4.05 billion, the source said. It’s a landmark deal for U.S. sports, which has gradually opened its ranks to investment from institutional money such as private equity, family offices and sovereign wealth.

Sportico

Led by managing partner Ted Leonsis, Monumental will retain all operational control in the deal, according to the people. QIA will not have a board seat, nor any voting power within the organization. The investment will be used to fuel growth in the group’s existing properties and future acquisitions.

Sportico

Qatar and the United Arab Emirates are allegedly eyeing stakes in buying minority stakes in NBA teams, according to reports. Ahead of the NBA playoffs, sources close to Abu Dhabi’s Mubadala Investment Co. and Qatar Investment Authority (QIA) said both sovereign funds are currently looking for potential teams.

dohanews.co

Given the NBA’s change in heart for local and abroad investments, plausible ownership may be possible by either Qatar or Abu Dhabi. Last December, the league voted on an expansion that allows sovereign wealth funds to buy a share of an NBA team. “The NBA Board of Governors recently decided to allow direct, passive investments in NBA teams by institutional investors,” NBA spokesman Mike Bass said in a statement. “All such investments are subject to league review and NBA Board approval,” Bass added.

dohanews.co

Former Lakers player Vander Blue signed with Qatari team Al Sadd for the remainder of the 2022-23 season.

HoopsHype

Tim Bontemps: LeBron James offers his condolences to Grant Wahl’s family on his passing. “It’s a tragic loss.” He spoke length about his fond memories of Wahl covering him as a teenager, and following his career after. He said the cover shoot for his first SI cover story was “pretty cool.”

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