The NBA, NHL and WNBA are on the precipice of being the first North American professional sports leagues to receive an investment from a sovereign wealth fund. The Qatari Investment Authority, the country’s sovereign wealth fund, is close to buying a stake in Monumental Sports and Entertainment, the parent company of the Washington Wizards, Washington Capitals, and Washington Mystics, sources briefed on the deal told The Athletic.
It’s a small stake, according to a person briefed on the matter. The deal valued Monumental at roughly $4 billion. Monumental’s portfolio also includes Capital One Arena and its new RSN, Monumental Sports Network.
“In November 2022, the NBA Board of Governors decided to permit passive, non-controlling, minority investments in NBA teams by institutional investors, including university endowments, foreign and domestic pension funds, and sovereign wealth funds, subject to a set of policy guidelines adopted at that time,” NBA spokesperson Mike Bass said in a statement to The Athletic. “All such investments require league review, NBA Board approval and compliance with the policy.
“The NBA Board is currently reviewing a potential investment by QIA in Monumental Sports & Entertainment, the parent company of the Washington Wizards, among other…
