A new international basketball league is in the works, backed by Maverick Carter and aiming to raise $5 billion from private investors.
According to Bloomberg, they’re trying to raise a whopping $5 billion from private investors. UBS Group AG and Evercore Inc. are also on board to help with the fundraising. The plan is to have six teams, both men’s and women’s, playing in eight cities around the world.
The league would spend two weeks in each city, kind of like how Formula 1 does its races. It sounds pretty exciting, right? Some other big names, like Skype co-founder Geoff Prentice and former Facebook exec Grady Burnett, are also backing this idea.
Even though LeBron James is close with Carter, he’s not part of this venture. It’s still a bit of a mystery when this league might actually kick off. By the way, James and Carter go way back; they started The SpringHill Company together in 2020 and even launched the UNINTERRUPTED brand. So, who knows what’s next for them?
