The NBA shields itself from Arab investment funds… for now | Relief
NBA
Adam Silver assures that for now he does not see any franchises controlled by investment groups controlled by states.
The Denver Nuggets celebrate the title won in June. Reuters
Adam Silver assures that for now he does not see any franchises controlled by investment groups controlled by states.
The entry of an Arab investment fund as a minority shareholder of the Washington Wizards has put the debate on the possible entry of foreign capital as the owner of a league franchise on the table. Something that the commissioner of the NBA Adam Silver discards for the moment.
The president of the American league took advantage of a chat in a forum with the Associated Press to answer questions about the future of a league in which he does not see For now, the possibility of an investment group controlled by a state entering as the owner of an NBA franchise. In fact, Silver continues to bet on a more individual control of the teams in the league.
“I don’t want to say that it will never happen, but right now we do not contemplate that possibility”, assured the New York lawyer. “It’s very important to us, sovereign wealth funds aside, that people, individuals, are in a position to control franchises and be responsible to their fans and players. It’s important that there is a person in charge in terms of connection to the community and with its other league partners.
Asked if the entry of a sovereign wealth fund will be seen in the short term, as has happened in golf with the LIV circuit, Silver was in charge of remembering the conditions to become part of the shareholding of a franchise nba. Right now the investment regulations in NBA teams mark that the owner has to have more than 15% of the shares of the franchise, while a sovereign wealth fund can only have a passive investment that does not exceed 5%.
“It’s important to have a person in charge in terms of connecting with the community and with your other league partners”
Adam Silver Commissioner of the NBA
It was not the only stick that Silver touched in his appearance before the media. The commissioner also spoke about the criticism of the players’ union lawyer for the sanction of Ja Morant. “What he was looking for was to provide him with a program that he also agreed with so that he could put his life in order before returning to the NBA.. He keeps looking for help and I understand that there is enormous pressure when you become an NBA player. Especially if you’re a superstar like him. But looking at what’s going on with our youth, guns and violence, I think it’s something we have to be incredibly serious about.”
“We’ll look to Las Vegas and there’s no question of interest in Seattle. It’s no secret. And there are other markets.”
Adam Silver
Finally, Silver addressed, once again, the possibility of expanding an NBA that increases the number of teams next season. “It is not certain, but it is natural to think that organizations grow over time. We will look to Las Vegas and there is no doubt that Seattle is interested in returning to the NBA. It’s no secret. And there are other markets that have also shown interest in this. But we are not in this process right now. There will be an open process when we consider expansion.”
Passionate about basketball since he was a child, Guillermo García has managed to make the sport of the basket his profession. With a degree in Humanities from the Carlos III University and a Master’s in Journalism, he started working at Marca in 2003, where he had time to do everything from soccer to reports and opinion, going through the closing section. In 2011 he began as a writer on the official NBA website in Spanish and since then he has covered basketball information with special attention to what is happening in the US. In addition, he has covered two Eurobasket, one World Cup and two Olympic Games, along with a multitude NBA playoffs. But not only does the man live on basketball and he has also been able to interview figures from other sports such as Usain Bolt, Simone Biles or Armand Duplantis. …
2023-08-03 09:36:31
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