A group of high-profile investors, advised by Maverick Carter, is working to raise $5 billion to launch a new international basketball league aimed at competing with the NBA, according to Bloomberg.
The league would offer players equity in addition to lucrative contracts, following a model similar to how LIV Golf attracted players from the PGA Tour.
Carter, LeBron James’ longtime business partner, advises the group, including Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett, and the investment firm SC Holdings, led by Jason Stein and Daniel Haimovic.
The investors are working with UBS Group AG and Evercore Inc. to raise capital from sovereign wealth funds, institutional investors, and wealthy individuals.
The league would consist of 12 teams — six men’s and six women’s teams — and host games in eight cities worldwide. Each city would have a two-week stint, adopting a global rotation similar to the Formula 1 racing model. Singapore is confirmed as one of the host cities, but the other seven markets have not been disclosed.
While it remains unclear which players the league will target or when it will begin, the ambitious plan seeks to draw top-tier talent by offering contracts that exceed what the NBA’s salary cap system can provide. The funding goal of $5 billion reflects the league’s intention to challenge the NBA and WNBA by offering more lucrative and flexible deals for players.
A representative for LeBron James told CNBC that James is not involved in the project and declined to comment on whether he has been approached to participate. James has previously expressed a strong interest in owning an NBA team once he retires, but no official connection to this new league has been confirmed.
As the NBA expands its international presence with leagues in Africa and games held across China, the UAE, Mexico City, and Paris, the emergence of this new global league adds further competition in the international basketball landscape. The 2024 season also saw a record 125 international players compete. a record 125 international players compete.
