Maverick Carter advising $5 billion initiative to launch new basketball league
Maverick Carter, LeBron James’ business manager, has been brought on as an adviser by a group of investors aiming to raise $5 billion to establish an international basketball league that would compete with the NBA, sources confirmed to ESPN, following an initial report by Bloomberg.
The group, which includes several private equity funds, plans to create a league featuring six men’s and six women’s teams that would play games globally, according to sources.
Although Carter, who has produced multiple TV and film projects with James, is closely associated with the Los Angeles Lakers star, sources told ESPN that James is not involved in the new league’s efforts.
James, whose current Lakers contract includes a player option for the 2025-26 season, has previously expressed interest in becoming an NBA team owner after his playing career concludes.
Bloomberg reported that the investment group is exploring private equity and sovereign wealth funds to secure the $5 billion in funding. However, NBA rules currently limit private equity funds to a 20% ownership stake in teams and prohibit them from holding governance roles.
The NBA has not faced a significant rival 5-on-5 league since the 1970s, when it merged with the American Basketball Association (ABA), absorbing four of its teams: the Pacers, Nets, Nuggets, and Spurs. In the 1990s, the WNBA outlasted the rival American Basketball League, which folded after 2½ seasons.
Meanwhile, a new 3-on-3 women’s league, Unrivaled, has launched this season, attracting several WNBA stars. However, rookie sensation Caitlin Clark opted not to participate.
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