An NBA rival in the works? PIF’s events arm Sela partnered with Singapore’s government and Hong Kong-listed, Macau-based casino operator Galaxy Entertainment on a new USD 5 bn international basketball circuit that is intended to rival the NBA, the Financial Times reports. Swiss bank UBS was tapped to advise on the plan, while no name for the upstart league or prospective launch date have been unveiled yet. Reuters also had the story.

The pitch: The megatournament looks to offer top basketball players an alternative to the US NBA tournament, while also bringing the sport closer to its vast Asian audience and Europe’s extensive talent pool, writes the salmon-colored paper. The project is set to involve six men’s and six women’s teams, which will compete in six host cities, with Macau and Singapore under consideration as potential hosts. Organizers are also looking to sign up several European cities as hosts.

The project will be spearheaded by Maverick Carter, a known business associate of NBA superstar Lebron James, along with Skype co-founder Geoff Prentice, and former Facebook executive Grady Burnett. Tech investor Byron Deeter, SC Holdings, and Quiet Capital are all part of an ongoing capital raise, people familiar with the matter told FT. Meanwhile, Singapore’s ministry of culture, community and sport is looking into the terms and “will assess the issue of investment at the appropriate time,” the FT said.

Butting heads with the NBA? The NBA closed a USD 76 bn 11-year broadcasting agreement with major media players last year, giving it enough capital to fend off new rivals. Teams in the new start-up league will have to compete with the NBA for talent, but luring just a few top players into the new tournament can potentially lead to a major shakeup in the status quo, the FT explained. The US league has also been pursuing its own strategy to rally international audiences, hosting more and more games abroad.

IN OTHER SPORTS NEWS-

PGA Tour Commissioner Jay Monahan and player Adam Scott asked Trump to mediate talks for the potentialPGA Tour-LIV Golf merger, the PGA Tour said in a statement last week. “We asked the President to get involved for the good of the game, the good of the country, and for all the countries involved,” the statement read.

The announcement followed a meeting at the Oval Office last Tuesday, where Trump sat with Monahan, Scott and phoned-in PIF Governor Yasir Al Rumayyan, unnamed sources familiar with the matter told the New York Times. Celebrated golfer Tiger Woods was also scheduled to attend, but had to skip the meeting due to his mother’s death, an unnamed source added.

This is not the first time Trump weighs in: The US president engaged in discussions with key figures from the PGA and PIF-backed LIV last November, playing golf with PGA Tour Commissioner Jay Monahan in Florida and meeting Al Rumayyan the following day while attending a UFC fight in New York.

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