Saudi Arabia & Singapore Back New International Basketball League

Saudi Arabia’s Public Investment Fund and the government of Singapore are backing a venture to create a new international basketball league. The venture is looking to raise USD 5 billion in private capital. The proposed league has yet to reveal an intended date for when it will be launched, nor has a title for the league been shared as of yet. 

Reportedly, the plan is to create an international basketball league composed of six men’s and six women’s teams. Games would be played in eight cities around the world, with two weeks spent in each city. Games are to be played in Singapore, Macau, and several other cities around Europe, with Singapore being the probable “headquarters” for the competition.

The proposed league will not necessarily rival the National Basketball Association (NBA), but will offer other advantages for talents around Asia, an under-scouted destination to the United States. The proposed league will also offer talent a more compressed season and less travel compared to the NBA. 

Macau casino operators Galaxy Group, Skype co-founder Geoff Prentice, and Lebron James’ business advisor, Maverick Carter, have also joined in on the venture when initially announcing the project in December.