LeBron James’s Business Partner Plotting a Rival League

A group of investors being advised by LeBron James‘ business partner, Maverick Carter, of the Los Angeles Lakers, is looking to raise $5 billion from private capital sources to establish an international basketball league that would compete with the National Basketball Association. According to Bloomberg, UBS Group AG and Evercore Inc. have been called upon […] The post LeBron James’s Business Partner Plotting a Rival League appeared first on BlackSportsOnline.

LeBron James’s Business Partner Plotting a Rival League

A group of investors being advised by LeBron James‘ business partner, Maverick Carter, of the Los Angeles Lakers, is looking to raise $5 billion from private capital sources to establish an international basketball league that would compete with the National Basketball Association.

According to Bloomberg, UBS Group AG and Evercore Inc. have been called upon to assist in raising the funds, which might come from affluent individuals and institutional investors like sovereign wealth funds.

The investment firm SC Holdings, headed by co-founders Jason Stein and Daniel Haimovic, former Facebook executive Grady Burnett, and Skype co-founder Geoff Prentice are among the other backers.

Carter, UBS, SC Holdings, Prentice, and Burnett representatives chose not to respond. A request for comment was not immediately answered by Evercore.

According to the people, the league will consist of six men’s and six women’s teams, with games taking place in eight different places over the course of two weeks in each city. A schedule akin to Formula 1 races is used to mimic the globe rotation. Games will be played in a number of markets, including Singapore.

Supporters of the new league encounter difficulties. Other businesses have had difficulties in the past, like those attempting to compete with the National Football League.

 

The post LeBron James’s Business Partner Plotting a Rival League appeared first on BlackSportsOnline.