Maverick Carter, LeBron James’ business manager, has been brought in as an adviser by a group of investors who are working to raise $5 billion to create an international basketball league that aims to compete with the NBA, sources told ESPN. This story was first reported by Bloomberg on Thursday.
The group, which includes several private equity funds, plans to form a league with six men’s teams and six women’s teams. The games will be played around the world, according to sources.
Although Carter is closely connected to LeBron James, who is a prominent figure in the sports world, sources confirmed that James is not involved in the creation of this new league. While James has not taken part in this project, he has previously shown interest in becoming an NBA team owner after he finishes his playing career. His current Lakers contract includes a player option for the 2025-26 season.
Carter, who has also worked as a producer on several of James’ TV and film projects, is said to be advising the investment group as they attempt to raise the $5 billion needed.
The group is reportedly planning to approach private equity funds and sovereign wealth funds for the money. Currently, private equity funds are limited to holding no more than 20% of an NBA team and cannot have governing roles.
The NBA has not faced a major rival in the 5-on-5 basketball league format since the 1970s. Back then, it merged with the American Basketball Association, which had a short life but included teams such as the Pacers, Nets, Nuggets, and Spurs. In the 1990s, the WNBA faced competition from the American Basketball League, though that league only lasted two and a half seasons before folding.
This season, a new 3-on-3 women’s basketball league called Unrivaled has started, attracting many big WNBA stars. However, rookie sensation Caitlin Clark chose not to participate in the league.
