An individual with information of the sale says the Qatar Investment Authority is shopping for a roughly 5% stake of Monumental Sports & Entertainment, the guardian firm of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics, as a part of a $4.05 billion deal.
The particular person spoke to The Associated Press on situation of anonymity Thursday as a result of the settlement had not been introduced.
It is believed to be the primary time the federal government of Qatar is investing in U.S. skilled sports. Sportico first reported the transaction, saying it’s the first time any sovereign wealth fund has purchased into possession of an American workforce.
Qatar final yr hosted soccer’s World Cup for the primary time, serving to FIFA attain a report income degree due to booming ticket and hospitality gross sales.
Ted Leonsis is managing associate and chairman of Monumental, which lists 20 different companions on its web site, together with Laurene Powell Jobs and Washington Nationals proprietor Mark Lerner. The firm additionally owns the Capital City Go-Go of the NBA G League and just lately took over the media outlet previously often known as NBC Sports Washington, now Monumental Sports Network.
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