LeBron’s Business Manager Advises New Basketball League
In a surprising twist that has the basketball world buzzing, Maverick Carter, the business manager of LeBron James, has taken on a new role. According to sources who spoke with ESPN, Carter has been enlisted as an adviser by a group of investors aiming to raise a staggering $5 billion. Their ambitious goal? To establish an international basketball league that could potentially rival the NBA. This intriguing development was first reported by Bloomberg on Thursday.
The investment group, which reportedly includes several private equity funds, is planning to create a league featuring six men’s teams and six women’s teams. These teams would play games across the globe, offering a fresh and exciting alternative to the current basketball landscape. While Carter’s involvement is confirmed, sources have made it clear that LeBron James himself is not part of this venture. Despite his close ties to Carter and his current contract with the Los Angeles Lakers, James is not involved in these efforts. However, he has expressed a keen interest in becoming an NBA owner once his illustrious playing career concludes.
Bloomberg’s report suggests that the investment group might seek to tap into private equity and sovereign wealth funds to gather the $5 billion they are targeting. It’s worth noting that private equity funds currently face restrictions, being limited to a 20% stake in NBA teams and are not permitted to hold governing roles.
The NBA has not encountered a significant rival 5-on-5 league since the 1970s. Back then, the American Basketball Association (ABA) posed a challenge before it eventually folded, leading to the NBA absorbing four of its teams: the Pacers, Nets, Nuggets, and Spurs. The WNBA also faced competition from the American Basketball League in the 1990s, although that league only lasted for 2½ seasons.
In a related development, a new 3-on-3 women’s league called Unrivaled is making its debut this season. This league has managed to attract many of the WNBA’s biggest stars, although rookie sensation Caitlin Clark has opted not to participate.
- Maverick Carter is advising a new basketball league.
- The league aims to raise $5 billion.
- It will feature six men’s and six women’s teams.
- LeBron James is not involved in this venture.
- The NBA hasn’t faced a rival league since the 1970s.
As the basketball community digests this news, the potential implications are vast. Could this new league truly rival the NBA? Will it attract top talent from around the world? And how will the NBA respond to this potential competition? Only time will tell, but one thing is certain: the basketball world is in for an exciting ride.
Originally Written by: Shams Charania
