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Qatari Investment Authority close to buying Wizards stake

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NEWS: The Qatari Investment Authority, the country’s sovereign wealth fund, is close to buying a stake in the Wizards, Capitals and Mystics, sources tell MikeVorkunov. The deal must still be approved by the NBA’s Board of Governors.

Commissioner Adam Silver spoke last Thursday about his thinking on state investment into sports during an appearance on “The Dan Patrick Show,” when he was asked about the financial agreement between theand the Saudi Arabian-owned Public Investment Fund, which includes a merger of the Tour and the PIF-owned LIV Golf.

“I hear the comments about sportswashing. On the other hand, you’re talking about it, others are talking about it. … In the same way, the— the football World Cup, soccer World Cup — brought enormous attention to Qatar. I think people learn about these countries, learn about what’s happening in the world in ways they otherwise wouldn’t. So I think the media does its job.

Monumental Sports is run by Ted Leonsis, who has owned the Capitals since 1999 and the Wizards, and their shared arena, since 2010. Leonsis reportedly pushed for the NBA to let sovereign wealth funds buy stakes in its teams, according to Sportico.

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