Qatar’s sovereign wealth fund is buying a stake in the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics
Sportico first reported the transaction, saying it is the first time any sovereign wealth fund has bought into ownership of an American team.hosted soccer’s World Cup
Qatar Sports Investments, a subsidiary of the state-run fund, has owned majority control of French soccer club Paris Saint-Germain since 2011. The same group agreed in October to buy a 22% stake in Portuguese club Braga. NBA spokesperson Mike Bass said the league’s Board of Governors decided in November to allow “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.” All investments fitting that bill require league review and NBA Board approval.
Dubinsky added in an email to The AP that the size of the stake would likely limit the impact Qatar can have on the teams, unlike the control of Paris Saint-Germain. That would fit with the NBA’s definition of a passive, minority investment.
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