Tana Aiyejina Published 26 May 2021The National Basketball Association on Monday announced the formation of NBA Africa and a partnership with several NBA figures and investors, including Nigerians Babatunde Folawiyo, Chairman and CEO, Yinka Folawiyo Group, and Helios Fairfax Partners Corporation, led by Tope Lawani, Co-CEO of HFP and co-founder and managing partner of Helios Investment Partners.NBA Africa will conduct the league’s business on.
Adam Silver has announced the launch of the league s newest business endeavor, NBA Africa. Led by former NBA stars
Dikembe Mutombo and
Grant Hill, entity will look to expand the league s business opportunities across the content as well as help grow the Basketball Africa League. In addition, NBA Africa will help maintain basketball academies across the continent and implement social justice iniatitives. With the expertise, resources and shared vision, the immensely successful investors and NBA legends, we believe that basketball in Africa can become a top sport over the next decade, Silver said during a recent press conference.
This month, the league opened its first office in Johannesburg, South Africa and launched the Basketball Africa League. As the business expands, NBA Africa hopes to add to its roster of investors that currently includes Hill, Mutombo,
NBA Commissioner Adam Silver announced the formation of a new NBA Africa company that will conduct the league s business on the continent, with outside investors joining along with NBA legends Dikembe Mutombo, Grant Hill, Joakim Noah and Luol Deng.
Specific terms of the investment in NBA Africa were not made available, but NBA commissioner Adam Silver said in a press conference Monday that the enterprise value for NBA Africa is worth nearly $1 billion.
Nigeria-based industrial group Yinka Folawiyo Group and Helios Fairfax Partners Corporation, an investment holding company that trades on the Toronto Stock Exchange under the ticker symbol HFPC, are investors in NBA Africa. Former NBA players Luol Deng and Joakim Noah are also investors.
Silver and NBA chief operating officer Mark Tatum will have NBA Africa board seats, joining Babatunde Folawiyo (CEO of Yinka Folawiyo) and Tope Lawani (co-CEO of Helios Fairfax). NBA Africa will be led by CEO Victor Williams.
Content provided by Last updated: 1 hour ago
Helios Fairfax Partners, Yinka Folawiyo Group Chairman and CEO Babatunde “Tunde” Folawiyo Headline Group of African Business Leaders and NBA Legends Investing in NBA Africa (www.NBA.com); NBA Legends Junior Bridgeman, Luol Deng, Grant Hill, Dikembe Mutombo and Joakim Noah Also Invest in NBA Africa.
The National Basketball Association (NBA) today announced the formation of NBA Africa, a new entity that will conduct the league’s business in Africa, including the Basketball Africa League (BAL) – a partnership between the NBA and the International Basketball Federation (FIBA) and the NBA’s first collaboration to operate a league outside of North America. The inaugural BAL season, featuring 12 of the top club teams from 12 African countries, is underway in Kigali, Rwanda, and the first BAL Finals will be held Sunday, May 30 at 4:00 p.m. CAT / 10 a.m. ET.