The Hoop Dream: A New Global Basketball League in the Making

Maverick Carter, the business partner of NBA superstar LeBron James, is now playing a key role in a big initiative. A group of investors is trying to raise a staggering $5 billion to start a new international basketball league. This league aims to be a rival to the NBA by having six men's teams and six women's teams playing games all over the world. This isn't the first time someone has tried to compete with the NBA, but it's been a long time since the 1970s when the American Basketball Association folded. It’s important to note that LeBron James himself isn’t part of this new venture. While he might have plans to become an NBA owner one day, he's not involved in this international league project. The investors hope to attract private equity and even sovereign wealth funds for the funding. It’s interesting to remember that private equity funds currently have some restrictions when it comes to stakes in NBA teams. The NBA has been pretty much unchallenged for decades. The last major challenge was in the 1970s with the ABA, and some of those teams are now in the NBA. The WNBA also had a brief rival in the 1990s, but that didn’t last long. This season, we’re seeing a new 3-on-3 women’s league called Unrivaled start up, and they’ve got some big WNBA stars on board, except for the rookie sensation Caitlin Clark.