(Bloomberg) — A group of investors being advised by Maverick Carter, Los Angeles Lakers star LeBron James’ business partner, is seeking to raise $5 billion from private capital sources to form an international basketball league to rival the National Basketball Association, according to people familiar with the matter.
Most Read from Bloomberg
UBS Group AG and Evercore Inc. have been tapped to help raise the money, which may come from wealthy individuals and institutional investors such as sovereign wealth funds, according to people who asked to not be identified as the information is private.
Other backers include Skype co-founder Geoff Prentice, former Facebook executive Grady Burnett, and the investment firm SC Holdings, which is led by co-founders Jason Stein and Daniel Haimovic.
Representatives for Carter, UBS, SC Holdings, Prentice and Burnett declined to comment. Evercore didn’t immediately respond to a request for comment.
The league will comprise six men’s and six women’s teams, with games played in eight cities around the world with two weeks in each city, the people said. The global rotation is modeled on a similar schedule to that of Formula 1 races. Singapore is one of the markets where games will be played.
The new league’s backers face challenges. Other startups, such as ones trying to compete with the National Football League, have struggled in the past.
Most Read from Bloomberg Businessweek
©2025 Bloomberg L.P.
