Macao is among the locations being considered for a new US$5 billion basketball league to be set up by an array of investors, including Macao casino operator Galaxy Entertainment, Saudi Arabia’s sovereign wealth fund and NBA legend LeBron James’ business partner, Maverick Carter.
According to the Financial Times, the international competition is intended to compete with the National Basketball Association (NBA) of the US and will consist of six male and six female teams, playing in eight host cities.
Aside from Macao and Singapore, a number of European cities are being considered for the new league, although planning is only at the discussion stage with the potential new league having neither a name nor a launch date.
Organisers are apparently intent on developing the project into a world class competition, giving Asian fans and top-tier players – especially European ones – an alternative to the NBA.
[See more: Basketball’s EASL will hold its semi-finals and finals in Macao]
The new project’s focus on European players is likely to be one of its strengths, as such athletes have won the NBA’s most valuable player prize five times over the last six years. Both they and millions of Asian basketball fans could be an unbeatable recipe for success.
Other investors reportedly involved in the project include Geoff Prentice, one of the founders of Skype; Byron Deeter of Bessemer Venture Partners, and Quiet Capital, a venture capital firm.
The Singaporean government is also looking to get on board, with the Straits Times noting that no deals have been made, although the authorities are “exploring the terms of the arrangement.”
Regarding the new venture, Galaxy Entertainment’s chief operations officer, Kevin Kelley said, “We’re thrilled to be strategic partners with this group of leaders. They’re creating a series of unmissable entertainment experiences for fans and we’re all in.”
