Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium. Mandatory Credit: Yukihito Taguchi-USA TODAY Sports
Soccer: FIFA World Cup Qatar 2022-Argentina vs France
(Washington, DC) — The Qatari Investment Authority is close to buying a stake in three professional sports teams.
The Athletic reports the wealth fund is in talks to buy a stake that owns the NBA’s Washington Wizards, the NHL’s Washington Capitals and the WNBA’s Washington Mystics.
A person with knowledge of the sale says the wealth fund is buying a roughly 5% in the companies as part of a $4.05 billion deal.
It marks the first time a sovereign fund has invested in major U.S. team sports. Sportico first reported the transaction
“In November 2022, the NBA Board of Governors decided to permit passive, non-controlling, minority investments in NBA teams by institutional investors, including university endowments, foreign and domestic pension funds, and sovereign wealth funds, subject to a set of policy guidelines adopted at that time,” NBA spokesperson Mike Bass said in a statement to The Athletic. “All such investments require league review, NBA Board approval and compliance with the policy.
Qatar last year hosted soccer’s World Cup for the first time, helping FIFA reach a record revenue level.
