Thu Jan 16 20:40:00 UTC 2025: ## Maverick Carter’s Group Aims to Launch $5 Billion Rival Basketball League
**NEW YORK** – A group of investors spearheaded by Maverick Carter, business partner to Los Angeles Lakers star LeBron James, is attempting to raise $5 billion in private funding to establish a new international basketball league, sources familiar with the matter have revealed. The ambitious project aims to directly compete with the established National Basketball Association (NBA).
Investment banks UBS Group AG and Evercore Inc. have been enlisted to secure the substantial capital, likely targeting high-net-worth individuals, institutional investors, and potentially sovereign wealth funds. Those involved have requested anonymity due to the confidential nature of the fundraising efforts. While details remain scarce, the undertaking signifies a significant challenge to the NBA’s dominance in the global basketball market.
First Piper 