Sources – Maverick Carter Advises $5 Billion Effort to Create New Basketball League

Maverick Carter, LeBron James’ business manager, has been hired as an advisor to a group of investors seeking to raise $5 billion to form an international basketball league that would serve as a rival to the NBA, sources told ESPN, confirming a story first reported. Thursday by Bloomberg.

The group – which includes several private equity funds – is looking to form a league consisting of six men’s teams and six women’s teams, playing matches around the world, sources told ESPN.

Although Carter, who has served as a producer on several of James’ television and film projects, is closely linked to the Los Angeles Lakers star, sources told ESPN that James is not involved in this new league’s efforts.

James, whose current Lakers contract includes a player option for the 2025-26 season, has expressed interest in becoming an NBA owner once his playing career is over.

Bloomberg reported that the investment group could try to tap private equity and sovereign wealth funds to raise the sought-after $5 billion. Currently, private equity funds are limited to a 20% stake in NBA teams and are not allowed to hold executive positions.

The NBA has not faced a significant rival 5-on-5 league since the 1970s, when the short-lived American Basketball Association went bankrupt and the NBA absorbed four of its teams: the Pacers, Nets, Nuggets and the Spurs. The WNBA was beaten to market by the rival American Basketball League in the 1990s, although that league folded after two and a half seasons.

This season, a new 3-on-3 league, Unrivaled, is starting and has filled its roster with many of the WNBA’s biggest stars, although rookie sensation Caitlin Clark has opted out.