Current:Home > reviewsMavs and Timberwolves play in Abu Dhabi as Gulf region’s influence with the NBA grows -Wealth Legacy Solutions
Mavs and Timberwolves play in Abu Dhabi as Gulf region’s influence with the NBA grows
View
Date:2025-04-15 15:19:40
LONDON (AP) — The NBA returns to Abu Dhabi this week as Arabian Gulf countries increasingly use their wealth to establish a foothold with the league.
The Dallas Mavericks and Minnesota Timberwolves play Thursday in the first of two preseason games in the United Arab Emirates capital, but most of the real action is taking place off the court.
Qatar’s sovereign wealth fund is buying a minority stake in the Washington Wizards with the move coming less than a year after the league’s Board of Governors opened the door to such institutional investors.
LeBron James recently visited Saudi Arabia on a trip that came a couple of months after the Los Angeles Lakers star joked on social media that he’d accept the kind of astronomical figures that the Saudis are paying to lure soccer stars.
The Milwaukee Bucks and Atlanta Hawks played preseason games in Abu Dhabi a year ago after the NBA signed a multiyear partnership with the emirate’s department of culture and tourism. It was the first time the league had staged games in the oil-rich Arabian Gulf — also called the Persian Gulf.
“We felt that bringing the live NBA experience to fans in Abu Dhabi was the next step in our ongoing efforts to grow the game in the region,” said Mark Tatum, NBA deputy commissioner and chief operating officer.
The league’s board of governors decided in November 2022 “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,” the NBA said in a statement.
Those investors would then be subject to league review and NBA Board approval.
Qatar Sports Investments, which has majority control of French soccer club Paris Saint-Germain, is buying a roughly 5% stake in the parent company of the Wizards, the NHL’s Washington Capitals and the WNBA’s Washington Mystics. The NBA confirmed that the deal has been approved.
Similar agreements in the future seem likely.
“The value of NBA teams continues to grow year to year, helped by the value of live sports and the global reach of our league,” Tatum said. “We anticipate our teams will receive continued interest from institutional investors around the world.”
Countries in the region like Saudi Arabia, which was implicated in the gruesome murder of a U.S.-based columnist, have faced criticism that they are “sportswashing” their human rights records.
“Playing games internationally is a critical part of our year-round efforts to engage our passionate international fans, many of whom may not otherwise experience an NBA game in-person,” Tatum said, noting the league has staged games — mostly not regular-season ones — in more than 20 countries outside the United States and Canada.
“That doesn’t mean we agree with every law or viewpoint where we play games or engage fans, and we condemn human rights violations wherever they occur,” Tatum said. “We make sure that we stay true to our mission and values everywhere we operate and adhere to guidance from the U.S. government.”
Saudi Arabia, through its sovereign wealth fund, muscled its way into professional golf before spending heavily to recruit soccer players, including Cristiano Ronaldo.
Radio host Dan Patrick asked NBA Commissioner Adam Silver in June if the Saudis have looked to invest in any NBA teams.
“No, not that I’m aware of,” Silver responded. “They certainly haven’t come to the league office.”
The NBA also hasn’t had talks with the Saudis about holding preseason games there, Tatum added.
As part of the Abu Dhabi visit, the NBA will hold youth clinics and host fan events featuring Mavericks and Timberwolves players and NBA greats including Kareem Abdul-Jabbar.
Both preseason games will be at Etihad Arena on Yas Island — where the league opened an NBA Store last year. The second game is Saturday.
The Mavericks then travel to Spain for a preseason game against Real Madrid next Tuesday.
___
AP NBA: https://apnews.com/hub/NBA
veryGood! (14444)
Related
- American news website Axios laying off dozens of employees
- Khloé Kardashian’s Must-Have Amazon Prime Day Picks You’ll Want to Shop Now With Picks as Low as $6.99
- Megan Thee Stallion's New Look Has the Internet Thirsting
- Bear, 3 cubs break into Colorado home, attack 74-year-old man who survived injuries
- A New York Appellate Court Rejects a Broad Application of the State’s Green Amendment
- Why Lisa Marie Presley Kept Son Benjamin Keough's Body on Dry Ice for 2 Months After His Death
- Panera Bread reaches first settlement in Charged Lemonade, wrongful death lawsuits
- Intelligence officials say US adversaries are targeting congressional races with disinformation
- Connie Chiume, South African 'Black Panther' actress, dies at 72
- Man falls to his death in Utah while canyoneering in Zion National Park
Ranking
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Takeaways from AP investigation on the struggle to change a police department
- Sean “Diddy” Combs Hotline Gets 12,000 Calls in 24 Hours, Accusers' Lawyer Says
- Where is 'College GameDay' for Week 7? Location, what to know for ESPN show
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- Heidi Klum Teases Her Claw-some Halloween Costume
- Dogs and cats relocated around the US amid Hurricane Helene: Here's where you can adopt
- Should you give your dog gluten-free food? How to tell if pup has an intolerance.
Recommendation
In ‘Nickel Boys,’ striving for a new way to see
States sue TikTok, claiming its platform is addictive and harms the mental health of children
Jason Kelce Claps Back at Critics Saying Travis Kelce's Slow Start on Chiefs Is Due to Taylor Swift
While Alabama fans grieve on Paul Finebaum Show, Kalen DeBoer enjoys path to recovery
Eva Mendes Shares Message of Gratitude to Olympics for Keeping Her and Ryan Gosling's Kids Private
I'm a Shopping Editor, Here's What I'm Buying From October Prime Day 2024: The 51 Best Amazon Deals
Drake Bell Details His Emotional Rollercoaster 6 Months After Debut of Quiet on Set
Kyle Richards Influenced Me To Add These 29 Prime Day Deals to My Amazon Cart