Reports of Qatar and Abu Dhabi interested in purchasing NBA teams have emerged, and the New York Knicks are looked at as one of the targets.
It was reported that executives at Abu Dhabi’s Mubadala Investment and Qatar Investment Authority were keen on NBA ownership and keeping a lookout for a solid match.
Per a Bloomberg report, the Knicks have been linked as one of the potential teams after MSGS president David Hopkinson told The Athletic earlier this month that they are open to selling a minority stake in the franchise.
According to Bloomberg’s Khim Bhasin, the league allows only a 20% ownership to sovereign entities ad the Qatar Investment Authority already have some experience in that regard as they were part of the $3 billion bid from Thiel Capital and Shasta Ventures to acquire the Phoenix Suns.
Knicks Could Be A Potential Target Primarily Due To Abu Dhabi Group’s Ties With James Dolan
Bloomberg speculated that the Knicks being on the radar of Qatar and Abu Dhabi comes on the back of the latter’s links with team owner James Dolan. The Dolan family controls the MSGS., which is connected to the Abu Dhabi United Group.
Abu Dhabi’s interest shouldn’t come as a surprise, especially after they hosted the first-ever NBA preseason games last year October. Earlier this month, Dolan quashed rumors of planning to sell the Knicks.
“I have no plans whatsoever to sell at this point. I’m not retiring anytime soon. It’s a family-controlled asset, so someone in the family will own it.”
It should be noted that Gulf countries have been heavily involved in spending for potential sports teams and events. For instance, Saudi Arabia and Abu Dhabi own English Premier League football teams, while Qatar boasts of a stake in Paris Saint-Germain and SC Braga.
On the season front, the Knicks are poised to make the playoffs. They are placed sixth in the East with a 33-27 with Jalen Brunson and Julius Randle spearheading their good run.
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