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Home Sports

Wizards Owner Expects Extra Sovereign Wealth Funds To Invest In Sports — Which International locations Are Investing Now?

by Staff Reporter
November 9, 2023
in Sports
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Wizards Owner Expects Extra Sovereign Wealth Funds To Invest In Sports — Which International locations Are Investing Now?
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(Photo : Scott Taetsch/Getty Images) WASHINGTON, DC – OCTOBER 21: Owner Ted Leonsis of the Washington Wizards seems on throughout the first half of the sport in opposition to the Chicago Bulls at Capital One Arena on October 21, 2022 in Washington, DC.

Businessman and investor Ted Leonsis believes that an growing variety of sovereign wealth funds will proceed so as to add sports activities investments of their portfolios. 

Leonsis’ firm Monumental Sports & Entertainment holds possession of the NBA’s Washington Wizards, NHL’s Washington Capitals, and WNBA’s Washington Mystics.

Earlier this 12 months, the Capitals and Wizards grew to become the primary groups from United States’ huge 4 leagues to simply accept sovereign wealth fund investments.

Qatar Investment Authority acquired a 5 p.c stake in Monumental Sports & Entertainment for $200 million final June.

“You’ll see. I believe other teams and other leagues will all be embracing pension funds, college endowments, university endowments and sovereign wealth funds as investors, as a part of the tapestry of their investment base,” the 66-year-old govt stated. 

However, NBA Commissioner Adam Silver clarified that there isn’t any foreseeable pathway for sovereign wealth funds to change into the controlling homeowners of an NBA franchise at current.

This limitation arises from the requirement for a controlling proprietor of an NBA staff to carry a minimal possession share of 15% of the franchise, whereas any involvement from a sovereign wealth fund is restricted to a passive funding not exceeding 5% in a staff. 

Read extra: Los Angeles Lakers Star LeBron James Sounds Off On Missed Calls In Narrow Loss vs Miami Heat

Sports groups managed by sovereign wealth funds

Several outstanding sports activities groups are below the possession or management of sovereign wealth funds, which offer an enormous monetary enhance and a aggressive edge in opposition to different groups.

Manchester City 

The first big-profile acquisition of a sports activities staff by a sovereign wealth fund occurred in September 2008, when Abu Dhabi United Group, an funding and growth firm owned by the Abu Dhabi royal household, took over Premier League membership Manchester City.

Previously a staff with a lackluster historical past, Manchester City underwent a radical transformation with the infusion of considerable monetary assets. The membership made a number of high-profile signings and secured their first Premier League title in 44 years in 2012.

By 2023, they’d established themselves as one of the dominant groups within the historical past of the game, reaching solely the eighth continental treble in Europe. 

Paris Saint-Germain

Qatar Sports Investments, the identical sovereign wealth fund that invested within the Washington sports activities groups, purchased a 70 p.c stake at French membership Paris Saint-Germain in June 2011.

A couple of months later, they grew to become the only real shareholder of the staff, shopping for out the remaining 30 p.c stake in March 2012. 

Since then, PSG has dominated home competitors, profitable 9 of their 11 Ligue 1 titles because the Qataris took over.

Furthermore, the membership has made important splashes within the switch market with a number of high-profile signings, setting the world switch payment file for the acquisition of Brazilian star Neymar.

Additionally, their switch for French sensation Kylian Mbappe ranks because the second most costly in soccer historical past.

Newcastle United

The newest amongst sovereign wealth funds taking on main sports activities groups, a consortium led by Saudi Arabia’s Public Investment Fund acquired the Premier League membership in October 2021 for round $370 million.

After narrowly avoiding relegation throughout the 2021-22 season, the membership made a sensational turnaround within the 2022-23 season by ending fourth within the league and qualifying for the UEFA Champions League for the primary time in 20 years.

Related Article: Ranking The Top Five Worst NBA In-Season Tournament Courts For The 2023-24 Season      

© 2023 Sportsworldnews.com All rights reserved. Do not reproduce with out permission.

Tags: countriesExpectsFundsinvestinvestingLIV Golfmanchester citynewcastle unitedownerParis-Saint GermainpsgSovereignSportswashington capitalsWashington Mysticswashington wizardsWealthwizards
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