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Tuesday, July 16, 2024

D.C. United Owner Buys Stake in Australian Basketball Team

Brisbane-Bullets
Brisbane Bullets

Jake Silverstein, an owner of MLS’ D.C. United and the co-owner and director of Swansea City AFC, has purchased a stake in the Brisbane Bullets.

Silverstein now owns roughly 20% of the team, which plays in Australia’s National Basketball League. The investment values the team at around $30 million.

Keeping his MLS ties strong, Silverstein joins D.C. United’s CEO Jason Levien’s controlling ownership group. Silverstein was a co-owner and alternate governor for MLS’ Houston Dynamo FC and NWSL’s Houston Dash but sold his stake last year. 

Silverstein will run the team’s day-to-day business operations.

The Milwaukee Bucks’ Khris Middleton, Toronto Raptors’ Thaddeus Young, and former NBA player Kevin Martin are also a part of the Bullets’ ownership group.

The Bullets ownership group has reportedly held discussions with government officials for a plan that includes a 12,000-14,000-seat arena and an adjacent entertainment district, projected to be $250 million.

The venue could come in handy — Brisbane is preparing to host the 2032 Summer Olympics.

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