{"id":94193,"date":"2025-02-09T00:00:00","date_gmt":"2025-02-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/"},"modified":"2025-02-09T00:00:00","modified_gmt":"2025-02-09T00:00:00","slug":"pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/","title":{"rendered":"PIF and partners to launch a USD 5 bn basketball tournament"},"content":{"rendered":"

<\/strong>An N<\/strong>BA rival in the works?<\/strong> PIF\u2019s events arm Sela<\/a> partnered with Singapore\u2019s government and Hong Kong-listed, Macau-based casino operator Galaxy Entertainment<\/a> on a new USD 5 bn international basketball circuit that is intended to rival the NBA, the Financial Times<\/a> reports. Swiss bank UBS<\/a> was tapped to advise on the plan, while no name for the upstart league or prospective launch date have been unveiled yet. Reuters<\/a> also had the story.<\/p>\n

The pitch: <\/strong>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\u2019s extensive talent pool, writes the salmon-colored paper. The project is set to involve six men\u2019s and six women\u2019s 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.<\/p>\n

The project will be spearheaded by Maverick Carter<\/strong>, 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<\/a>, and Quiet Capital<\/a> are all part of an ongoing capital raise, people familiar with the matter told FT. Meanwhile, Singapore\u2019s ministry of culture, community and sport is looking into the terms and \u201cwill assess the issue of investment at the appropriate time,\u201d the FT said. <\/p>\n

Butting heads with the NBA?<\/strong> The NBA closed a USD 76 bn 11-year broadcasting agreement<\/a> 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.<\/p>\n

\n

IN OTHER SPORTS NEWS-<\/p>\n

PGA Tour Commissioner Jay Monahan and player Adam Scott<\/strong> asked Trump to mediate <\/strong>talks for the <\/strong>potential<\/a><\/strong>PGA Tour-LIV Golf merger<\/a><\/strong><\/a>, the PGA Tour said in a statement<\/a> last week. \u201cWe asked the President to get involved for the good of the game, the good of the country, and for all the countries involved,\u201d the statement read. <\/p>\n

The announcement followed a meeting at the Oval Office last Tuesday<\/strong>, 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<\/a>. Celebrated golfer Tiger Woods was also scheduled to attend, but had to skip the meeting due to his mother\u2019s death, an unnamed source added. <\/p>\n

This is not the first time Trump weighs in: <\/strong>The US president engaged in discussions with key figures from the PGA and PIF-backed LIV last November<\/a>, 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new tournament looks to bring basketball closer to its extensive Asian fans<\/p>\n","protected":false},"author":1,"featured_media":94194,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2524],"tags":[10,3970,3971,1151,3969,8],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-_newspack_sports","tag-enterpriseam-ksa","tag-galaxy-entertainment","tag-nba","tag-public-investment-fund-pif","tag-sela","tag-sports","wpautop","entry"],"acf":{"mongo_id":"3eb50d27-7a60-4eff-8054-7dd7fb88f068","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1414.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF and partners to launch a USD 5 bn basketball tournament","related_issue":[94188],"teaser":"The new tournament looks to bring basketball closer to its extensive Asian fans","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.fe9c0444-7ff1-4299-9c86-2e5515369afe.mp3"},"yoast_head":"\nPIF and partners to launch a USD 5 bn basketball tournament - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIF and partners to launch a USD 5 bn basketball tournament\" \/>\n<meta property=\"og:description\" content=\"The new tournament looks to bring basketball closer to its extensive Asian fans\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-09T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PIF and partners to launch a USD 5 bn basketball tournament\",\"datePublished\":\"2025-02-09T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\"},\"wordCount\":506,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM KSA\",\"Galaxy Entertainment\",\"NBA\",\"Public Investment Fund (PIF)\",\"Sela\",\"sports\"],\"articleSection\":[\"Sports\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\",\"name\":\"PIF and partners to launch a USD 5 bn basketball tournament - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-02-09T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PIF and partners to launch a USD 5 bn basketball tournament\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"PIF and partners to launch a USD 5 bn basketball tournament - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/","og_locale":"en_US","og_type":"article","og_title":"PIF and partners to launch a USD 5 bn basketball tournament","og_description":"The new tournament looks to bring basketball closer to its extensive Asian fans","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/","og_site_name":"KSA","article_published_time":"2025-02-09T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"PIF and partners to launch a USD 5 bn basketball tournament","datePublished":"2025-02-09T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/"},"wordCount":506,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM KSA","Galaxy Entertainment","NBA","Public Investment Fund (PIF)","Sela","sports"],"articleSection":["Sports"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/","name":"PIF and partners to launch a USD 5 bn basketball tournament - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1","datePublished":"2025-02-09T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/09\/pif-and-partners-to-launch-a-usd-5-bn-basketball-tournament\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"PIF and partners to launch a USD 5 bn basketball tournament"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1414.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/94193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=94193"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/94193\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/94188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/94194"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=94193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=94193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=94193"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=94193"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=94193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}