Maverick Carter is advising a group of investors seeking to raise $5 billion from private capital sources to form an international basketball league ro rival the NBA, reports Bloomberg. UBS Group AG and Evercore Inc. have been tapped to help raise the money. Other backers include Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett, and the investment firm SC Holdings, which is led by co-founders Jason Stein and Daniel Haimovic.
Carter is the longtime business partner of LeBron James. James has expressed a strong interest in becoming an owner of an NBA team when he retires.
The league will comprise six men’s and six women’s teams, with games played in eight cities around the world with two weeks in each city, the people said. The global rotation would be similar to that of Formula 1 races. Singapore is one of the market where games will be played.
