{"id":426760,"date":"2023-06-12T19:46:46","date_gmt":"2023-06-12T19:46:46","guid":{"rendered":"https:\/\/yebscore.com\/news\/?p=426760"},"modified":"2023-06-12T19:46:46","modified_gmt":"2023-06-12T19:46:46","slug":"nba-commissioner-adam-silver-is-mostly-open-for-saudi-investment-in-the-league-an-opportunity-to-bring-people-together","status":"publish","type":"post","link":"https:\/\/yebscore.com\/news\/nba-commissioner-adam-silver-is-mostly-open-for-saudi-investment-in-the-league-an-opportunity-to-bring-people-together\/","title":{"rendered":"NBA Commissioner Adam Silver Is Mostly Open For Saudi Investment In The League: \u201can opportunity to bring people together.\u201d"},"content":{"rendered":"<p>Given that the NBA just voted to allow sovereign wealth funds to buy minority holdings in clubs, NBA commissioner Adam Silver won&#8217;t entirely rule out the prospect of the Saudi PIF entering the league in any shape or form.<\/p>\n<h2>NBA Commissioner Adam Silver Is Mostly Open For Saudi Investment In The League: \u201can opportunity to bring people together.\u201d<\/h2>\n<p>It&#8217;s reasonable to question what other sports Saudi Arabia may become interested in shortly in light of the Public Investment Fund of Saudi Arabia&#8217;s recent agreement with the PGA Tour to expand its presence in professional golf.<\/p>\n<p>The PGA Tour and LIV Golf\u2019s \u201crivalry\u201d is ended following the two organizations\u2019 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.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The NBA recently allowed sovereign wealth funds to buy minority stakes in its franchises.<\/p>\n<p>Could the Saudi PIF enter the league in some form?<\/p>\n<p>It appears Adam Silver won\u2019t completely rule out the possibility.<\/p>\n<p>&mdash; Front Office Sports (@FOS) <a href=\"https:\/\/twitter.com\/FOS\/status\/1668240185652281344?ref_src=twsrc%5Etfw\">June 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">How much more influence will PIF and the Saudi government have in the sports world through future investments?<\/p>\n<p>Adam Silver shared his thoughts noting that golf, like basketball, is a global sport.<\/p>\n<p>\u201cI also think it\u2019s a two-edged sword.\u201d<a href=\"https:\/\/t.co\/eTCvJx6uks\">https:\/\/t.co\/eTCvJx6uks<\/a><\/p>\n<p>&mdash; The Athletic (@TheAthletic) <a href=\"https:\/\/twitter.com\/TheAthletic\/status\/1666937990730616832?ref_src=twsrc%5Etfw\">June 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>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.<\/p>\n<p>If it makes NBA fans uncomfortable, they should get accustomed to it. Because it&#8217;s likely to affect your preferred league as well.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\u2018The money is unstoppable\u2019<\/p>\n<p>What would Adam Silver, Rob Manfred or Roger Goodell do if the Saudi money comes calling??  <a href=\"https:\/\/t.co\/iY29LhvYVI\">pic.twitter.com\/iY29LhvYVI<\/a><\/p>\n<p>&mdash; Maggie Gray (@MaggieGray) <a href=\"https:\/\/twitter.com\/MaggieGray\/status\/1666434496076324868?ref_src=twsrc%5Etfw\">June 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>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&#8217;re looking at you, PIF) to acquire up to a 20% interest in any team. The door is wide open, to put it mildly.<\/p>\n<p>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.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Once the Saudis take over there won&#39;t be any more firing.   <a href=\"https:\/\/t.co\/IY4wlXxdjZ\">https:\/\/t.co\/IY4wlXxdjZ<\/a><\/p>\n<p>&mdash; Jocko Johnson II (@JockoJohnson2) <a href=\"https:\/\/twitter.com\/JockoJohnson2\/status\/1666429448202383361?ref_src=twsrc%5Etfw\">June 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cI hear the comments about sportswashing. On the other hand, you\u2019re talking about it, others are talking about it. \u2026 In the same way the World Cup \u2014 the football World Cup, soccer World Cup \u2014 brought enormous attention to Qatar. I think people learn about these countries, learn about what\u2019s happening in the world in ways they otherwise wouldn\u2019t. So I think the media does its job.<\/p>\n<p>\u201cBut \u2026 now talking specifically about the <a href=\"https:\/\/www.sportingnews.com\/in\/nba?gr=www\">NBA<\/a>, where we\u2019re such a global sport, I think people are a little too dismissive these days about the benefits that come from the commonality around sports.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Could The NBA Be Open For Saudi Arabia\u2019s Business? Maybe<\/p>\n<p>NBA commissioner Adam Silver appears open to investment from Saudi Arabia<a href=\"https:\/\/t.co\/sFTLIZRQh1\">https:\/\/t.co\/sFTLIZRQh1<\/a>    <a href=\"https:\/\/twitter.com\/hashtag\/NBA?src=hash&amp;ref_src=twsrc%5Etfw\">#NBA<\/a>    <a href=\"https:\/\/twitter.com\/hashtag\/SaudiArabia?src=hash&amp;ref_src=twsrc%5Etfw\">#SaudiArabia<\/a>    <a href=\"https:\/\/twitter.com\/hashtag\/PIF?src=hash&amp;ref_src=twsrc%5Etfw\">#PIF<\/a>     <a href=\"https:\/\/twitter.com\/hashtag\/AdamSilver?src=hash&amp;ref_src=twsrc%5Etfw\">#AdamSilver<\/a><\/p>\n<p>&mdash; \ud83d\udd06The CREATIVE Mix \ud83d\udcf1 (@MusicSuiteC) <a href=\"https:\/\/twitter.com\/MusicSuiteC\/status\/1668243323448881152?ref_src=twsrc%5Etfw\">June 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Silver clarified that the Saudis have not made any official inquiries about buying into an NBA club. \u201cThey certainly haven\u2019t come to the league office,\u201d he said.<\/p>\n<p>\u201cWe allow funds to invest in teams but not control teams, not to have influence over teams,\u201d Silver explained.<\/p>\n<p>So are we soon be looking at a new merger news?<\/p>\n<p>&nbsp;<\/p>\n<p><strong>FOE MORE SPORTS COVERAGE-\u00a0<\/strong><\/p>\n<p><a title=\"Given Their Stadium Situation, Jacksonville Jaguars Are Thinking Of Moving To Daytona As Of Now\" href=\"https:\/\/yebscore.com\/news\/given-their-stadium-situation-jacksonville-jaguars-are-thinking-of-moving-to-daytona-as-of-now\/\" rel=\"bookmark\">Given Their Stadium Situation, Jacksonville Jaguars Are Thinking Of Moving To Daytona As Of Now<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Given that the NBA just voted to allow sovereign wealth funds to buy minority holdings in clubs, NBA commissioner Adam Silver won&#8217;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: \u201can opportunity to [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":397319,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[2253,9378,9377,9376,3278,9375,9374,2215],"class_list":["post-426760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nba","tag-adam-silver","tag-adam-silver-liv-gold-pga-merger","tag-adam-silver-pga","tag-adam-silver-saudi-investment","tag-nba-2023","tag-nba-adam-silver","tag-nba-commissioner-adam-silver","tag-nba-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/426760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/comments?post=426760"}],"version-history":[{"count":0,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/posts\/426760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media\/397319"}],"wp:attachment":[{"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/media?parent=426760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/categories?post=426760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yebscore.com\/news\/wp-json\/wp\/v2\/tags?post=426760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}