The Qatar Investment Authority is poised to buy a minority stake in the group that owns Washington franchises in the NBA, WNBA and NHL in a groundbreaking move by a sovereign wealth fund into US pro sports, the Washington Post reported Thursday.The Post was one of several US media outlets reporting that the state-owned Qatari fund was seeking to acquire a 5% stake in Monumental Sports & Entertainment, the group headed by Ted Leonsis that owns the NBA's Washington Wizards, the WNBA's Mystics and the NHL's Capitals.
A person with knowledge of the sale tells The Associated Press the Qatar Investment Authority is buying a roughly 5% stake of Monumental Sports & Entertainment as part of a $4.05 billion deal.
Qatar s sovereign wealth fund is seeking to acquire a stake in the group that owns the NBA s Washington Wizards, an NBA spokesman confirmed on Thursday.
Qatar s sovereign wealth fund is buying a roughly five per cent stake in the parent company of the NBA s Washington Wizards, NHL s Washington Capitals and WNBA s Washington Mystics as part of a US$4.05 billion deal, a person with knowledge of the sale said Thursday.