Saturday December 9, 2023

NBA Africa Launches With Near $1B Valuation

  • On Monday, NBA commissioner Adam Silver announced the formation of NBA Africa.
  • The new business investment entity and company is valued at nearly $1 billion.
BAL/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

On Monday, the NBA announced NBA Africa, a new entity focused on league business within the continent. NBA commissioner Adam Silver said the company is valued at “nearly $1 billion.”

“Much of that valuation comes from the enormous optimism we see in this brand in Africa and our opportunity to bring content directly to the people of the many countries of Africa,” Silver said. 

Investors include former NBA players Dikembe Mutombo, Grant Hill, Luol Deng, and Helios Fairfax Partners, an investment holding company that works with African businesses.

The business operations of NBA Africa will be similar to those of NBA China, which launched in 2008 and has an estimated valuation of more than $5 billion, per Sports Business Daily. That venture also included an investment from Disney. 

NBA Africa aims to expand media rights throughout the continent and establish corporate partnerships, NBA academies, and social initiatives.

The entity will also oversee the Basketball Africa League, which launched May 16. J. Cole made his pro debut for the 12-team league’s Rwanda Patriots this month. He currently has the No. 1 album in the U.S. after “The Off-Season” notched 325 million first-week streams.

“We believe that basketball can become a top sport in Africa over the next decade,” said Silver.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

If Low-Budget Pacers Beat LeBron’s Lakers for NBA Cup, Does It Matter?

Pacers attempting to make history with league’s smallest payroll.

NBA in Vegas? LeBron and RedBird Are All In

RedBird Capital Partners, Fenway Sports Group working with NBA superstar.

The Most Talked-about Part of the NBA Tourney? Look Down

Floors generate widespread rebuke for both design and safety.
NLL Seals Las Vegas

Meaningful NBA Games Finally Hit Las Vegas. Expect More

End of NBA In-Season Tournament is latest major event to hit sports boomtown.
podcast thumbnail mobile
Front Office Sports Today

Golf World in Chaos After Jon Rahm Joins LIV

0:00
0:00

Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? “AG’s Office Has Not Expressed Interest In Pursuing”

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference’s future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin’s interaction with the player behind lawsuit.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
FanDuel
Multiple Locations
Adidas
Multiple Locations
Creative Artists Agency
Multiple Locations
Sweden knocks out the US and TV ratings.

U.S. and Mexico’s WWC Goal: $3B Revenue, Attendance Records

Joint bid for FIFA event seeks dramatic new milestone in women’s sports.
Tokyo-Olympics
December 5, 2023

Two Years After Tokyo’s $13B Olympics: Criminal Charges

Trial begins in bid-rigging scandal further marring already troubled Games.
December 6, 2023

Indigenous Lacrosse Team at Olympics? White House Backing Push for Solo Squad

Bid to include Haudenosaunee in upcoming competition garners widespread support.
Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
Oct 22, 2022; Paris, FRANCE; General view the Eiffel Tower and the Seine river, as seen from Pont Alexandre III in advance of the Paris 2024 Summer Olympic Games. The bridge will serve as the site for triathlon, open water swim and road cycling.
December 4, 2023

Olympic Hosts Paris and Brisbane Grapple With Security Concerns, Soaring Costs

Fatal stabbing near Eiffel Tower raises new concerns about Paris 2024.
Olympic rings in front of mountains in the background
November 29, 2023

IOC’s Winter Olympics Favorites: France 2030, Salt Lake City 2034

Preferred bidders have been selected for 2030 and 2034.
November 27, 2023

Two U.S. World Cups in Two Years?

The United States is hoping to host the 2027 Women’s World Cup.
November 21, 2023

Cricket Continues To Surge In Popularity

Tournament posts record-level attendance, streaming totals.