Qatar Investment Authority offers to buy minority stake in Washington Wizards parent company

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Qatar's sovereign wealth fund offered to buy a roughly 5% stake in Monumental as part of a $4.05 billion deal, a person familiar with the matter told CNBC.

Qatar's sovereign wealth fund has offered to buy a minority stake in Monumental Sports & Entertainment, the parent company of the Washington Wizards and other Washington, D.C., sports teams, the National Basketball Association said on Thursday.The fund offered to buy a roughly 5% stake in Monumental as part of a $4.05 billion deal, a person familiar with the matter told CNBC.

The NBA is still reviewing the deal with the Qatari Investment Authority, league spokesperson Mike Bass said in a statement to CNBC. The NBA in November began to allow sovereign wealth funds and other institutional investors to buy noncontrolling stakes in the league's teams. Under a"In accordance with the policy, if approved, QIA would have a passive, minority investment in the team, with no involvement in its operations or decision-making," Bass said the league's statement.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Qatar Investment Authority Buys Minority Stake In WizardsQatar Investment Authority Buys Minority Stake In Wizards - RealGM Wiretap
Source: RealGM - 🏆 580. / 51 Read more »

Qatari Investment Fund May Buy Stake in Washington Wizards, CapitalsQatar’s sovereign wealth fund is reportedly close to buying a minority stake in Monumental Sports and Entertainment, the parent company of the Washington Wizards, Washington Capitals, and Washington Mystics.
Source: thedailybeast - 🏆 307. / 63 Read more »