Official announcements from the new league or corporate press releases

Maverick Carter Advises $5 Billion Bid to Launch NBA Rival League, LeBron James Not Involved

Jan 16, 2025, 02:06 AM

A group of investors, advised by Maverick Carter, the business partner of LeBron James, is seeking to raise $5 billion to establish an international basketball league to rival the NBA. The initiative, which aims to operate outside North America, has engaged UBS Group AG and Evercore Inc. to help raise the funds. The proposed league plans to include six men's and six women's teams, with games to be played in eight cities globally, including Singapore, adopting a touring model similar to Formula 1. LeBron James is not involved in this venture, according to sources. The investment group includes notable figures such as Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett, and the investment firm SC Holdings, led by Jason Stein and Daniel Haimovic.