NBA Considers Forming Investment Vehicle To Buy Shares Of Teams
The NBA is "mulling the creation of an investment vehicle that would buy minority shares of individual teams," according to Scott Soshnick of BLOOMBERG NEWS. In a memo sent to owners, the league said that it is "exploring the potential formation of 'a new capital vehicle that could purchase passive, minority ownership interests across multiple NBA teams.'" The memo "added that the matter would be discussed at the Sept. 20 owners meeting" in N.Y. The NBA is "soliciting feedback from owners, seeking to gauge their interest in selling to such a vehicle, or allowing members of their ownership group to do so." The memo said that "specific terms -- such as how much or little the vehicle could acquire from any team -- haven’t been determined" (BLOOMBERG NEWS, 9/3).