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Basketball-PIF among partners backing $5 billion basketball league spanning Asia and Europe

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A group of investors are looking to create a basketball league that will span Asia and Europe to one day rival the NBA, with Saudi Arabia's sovereign wealth fund as a strategic partner and Swiss bank UBS as an adviser.
The article discusses the launch of a new basketball league named "Basketball League" (BL), which aims to span across Asia and Europe with a $5 billion investment. The league is backed by significant partners including Saudi Arabia's Public Investment Fund (PIF), which has also invested in other sports like golf and soccer. The initiative is led by former NBA player and current FIBA executive, Richard Carrión, and involves collaboration with various national basketball federations. The league plans to start in 2026, featuring both men's and women's teams, and will include a unique format with a regular season, playoffs, and an All-Star game. The goal is to elevate basketball's global presence, provide new opportunities for players, and foster international competition.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/sport/basketball/basketball-pif-among-partners-backing-5-billion-basketball-league-spanning-asia-and-europe/ar-AA1yDip2 ]