Middle East investor eye National Basketball Association franchises
An unnamed Middle East investor has approached NBA commissioner last month to buy one of four NBA franchises - Financial Times is reporting.
No deal has been reached so far, but the NBA commissioner David Stern says the takeover of some of the 30 NBA franchises by overseas investors is inevitable. (It is estimated that LA Lakers and the New York Knicks are worth more than $1 billion, and the NBA is expected to generate $5.5 billion in revenues this season.)
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More details from Financial Times here.
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