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This is the first time a sovereign state has become part of a U.S. professional sports company.
Last week, Rick Maese and Ben Golliver of The Washington Post reported that the Qatar Investment Authority (a state-owned entity) Proposed purchase of 5% equity Monumental Sports and Entertainment (MSE). If all parties approve the deal, the Qatari government would become the first to own part of a major U.S. professional sports team.
The MSE features the Washington Wizards, Mystics, Capitals and Capital City Go-Go.They also own the Wizards DG and NBC Sports Washington, soon to be Renamed Memorial Sports Network.
The NBA and NHL are the two largest leagues involved in the deal, given that MSE owns more than just one team. According to reports from Maese and Golliver, the NBA is still reviewing it, but the NHL has already approved it.
The NBA has no rules preventing sovereign state entities such as the Qatari Fund from owning stakes in NBA teams. However, these investors cannot own more than 20% of a team, and their stake can only be passive. In other words, representatives of the Qatar Fund cannot make major decisions about the Wizards.
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