US basketball chief: sovereign wealth funds cannot buy teams
Statement follows Qatari fund buying minority stake in owner of Washington Wizards
The head of the US National Basketball Association (NBA) has said it has no plans to allow sovereign wealth funds to buy controlling stakes in its teams.
The statement follows the Qatar Investment Authority’s (QIA) $200 million purchase of a 5% stake in a company that owns the Washington Wizards, the US capital’s NBA team. The company, Monumental Sports & Entertainment, also owns Washington’s women’s basketball and hockey teams.
“I don’t want to say what could ever happen, but there’s no
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