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Sela, the events company owned by Saudi Arabia’s Public Investment Fund, has agreed to become the operating partner for the proposed new league, which would feature six men’s and six women’s teams travelling to eight cities around the world. Macau and Singapore are in line to be hosts, with the Singaporean government and casino operator Galaxy Entertainment signalling their support for the project.
Basketball is huge in Asia, especially in China, and decision makers in places like Singapore, Macau and beyond are eager to add new forms of entertainment to boost local tourism. This is not a Saudi-led project. “The thesis is simple: basketball is a global game, and the world wants more of it,” said Neil Meyer, global co-head of media and telecom at UBS.
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Shaquille O’Neal, the 7-foot-1 NBA legend who moonlights as DJ Diesel, will be back on the turntables as the headliner of the first Sports Illustrated LIV Golf Experience, a live entertainment event announced Tuesday morning by the Saudi Arabia-backed tour.
This won’t be O’Neal’s first time DJing in the D-FW area. Last year in Fort Worth, he launched Shaq’s Bass All-Stars Festival, which drew some 15,000 attendees, according to festival organizers. The festival recently announced it is returning to Cowtown this November.
Former Thunder player Perry Jones signed with Saudi team Al Ahli Jeddah for the 2024-25 season.
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"LeBron James has been on the record saying that he wants to play with his son, and obviously him being a billionaire, money is not an issue, especially on him and his team talking to folks in Saudi Arabia to ultimately partner up with him so he can ultimately own an NBA team down the line."
LeBron James invests in PGA
Just over a month ago, a group of financiers and sports team owners, led by Fenway Sports Group, said it would invest up to $3 billion in the PGA Tour, a watershed deal that gave players equity in the league as it fends off competition from the Saudi-backed LIV Golf. What wasn’t reported then was that several powerful people in sports, music and entertainment had also invested personally. Two names are likely to draw attention: LeBron James, the superstar basketball player, and Drake, the rapper. The investors are bringing more than money. F.S.G. and fellow backers, including the billionaires Steve Cohen, Arthur Blank and Marc Lasry, believe they can help reinvigorate the sport, particularly as the value of media rights soars. James and Drake are committing additional capital as “strategic investors,” and are expected to use their marketing power to help the tour broaden its audience. James and the PGA Tour commissioner, Jay Monahan, were at the home of Tom Werner, F.S.G.’s chairman, recently discussing just that, DealBook hears.
Former 76ers player Hollis Thompson signed with Saudi team Al Ahli Jeddah for the 2023-24 season.
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