Ares Management Corp., Apollo Global Management (NYSE:APO) and Sixth Street Partners are reportedly having early-stage conversations regarding the National Basketball Association’s (NBA) European expansion.
Anonymous sources told Bloomberg that the NBA is weighing a proposal to launch a European league that would feature a mix of new franchises, current clubs and new football organizations.
Should this proposal be approved, it would create a multi-billion-dollar opportunity for private investments, although conversations are still ongoing and are subject to change. More than 120 prospective investors have shown interest in the process, the article stated.
Private equity in sports has been an accelerating investment trend, where firms are looking to acquire minority or majority stakes in professional teams, leagues and businesses, …
This post was originally published here
