NBA Commissioner Adam Silver Is Mostly Open For Saudi Investment In The League: “an opportunity to bring people together.”

Given that the NBA just voted to allow sovereign wealth funds to buy minority holdings in clubs, NBA commissioner Adam Silver won’t entirely rule out the prospect of the Saudi PIF entering the league in any shape or form.

NBA Commissioner Adam Silver Is Mostly Open For Saudi Investment In The League: “an opportunity to bring people together.”

It’s reasonable to question what other sports Saudi Arabia may become interested in shortly in light of the Public Investment Fund of Saudi Arabia’s recent agreement with the PGA Tour to expand its presence in professional golf.

The PGA Tour and LIV Golf’s “rivalry” is ended following the two organizations’ unexpected U-turn on Tuesday, when it appeared that their disagreements would be impossible to resolve. PIF Governor Yasir Al-Rumayyan revealed that he personally informed LIV Golf Tour CEO Greg Norman of the announcement.

The PIF has been a significant player in business for the past several years, investing in minorities in companies like Boeing, META, Citigroup, Disney, and Bank of America. The PIF has been financing LIV Golf up to this point.

The fund, which has a market value of over $650 billion, was established in 1971 with the primary objective of investing money on behalf of Saudi Arabia.

However, this nation also has a deplorable track record when it comes to human rights. Saudi Arabia is being sued by the relatives of 9/11 victims in an effort to hold it accountable for the attack. Aircraft used in the murder of Washington Post journalist Jamal Khashoggi were also owned by the Saudi state investment fund, which is now funding the PGA Tour.

If it makes NBA fans uncomfortable, they should get accustomed to it. Because it’s likely to affect your preferred league as well.

The NBA is glad about this. The board of governors of the league implemented a regulation modification last year that permits sovereign wealth funds (we’re looking at you, PIF) to acquire up to a 20% interest in any team. The door is wide open, to put it mildly.

Adam Silver, the commissioner of the NBA, recently made an appearance on the Dan Patrick Show to talk about the prospect of Saudi investment in the league he oversees.

“I hear the comments about sportswashing. On the other hand, you’re talking about it, others are talking about it. … In the same way the World Cup — the football World Cup, soccer World Cup — brought enormous attention to Qatar. I think people learn about these countries, learn about what’s happening in the world in ways they otherwise wouldn’t. So I think the media does its job.

“But … now talking specifically about the NBA, where we’re such a global sport, I think people are a little too dismissive these days about the benefits that come from the commonality around sports.”

Silver clarified that the Saudis have not made any official inquiries about buying into an NBA club. “They certainly haven’t come to the league office,” he said.

“We allow funds to invest in teams but not control teams, not to have influence over teams,” Silver explained.

So are we soon be looking at a new merger news?

 

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