Barack Obama Joins NBA Africa as a Strategic Partner and Minority Owner

 

Former President Barack Obama announced his partnership with the National

Basketball League’s new international venture, NBA Africa, to serve as a strategic

partner and minority owner.

After launching in May, NBA Africa is already valued at $1 billion following a successful

inaugural season of the Basketball Africa League (BAL) which NBA Africa oversees.

Obama now joins a list of notable investors, including Dikembe Mutombo, Grant Hill,

and Junior Bridgeman.

While the terms of Obama’s equity in the venture were not disclosed, it was reported

that the former president would use his stake to fund programs and initiatives for the

Obama Foundation across the African continent.

The Basketball Africa League made an early splash this season by providing the stage

for J. Cole to play pro-ball just ahead of releasing his latest album, The Off-Season. 

Source: twitter.com

Related posts

Leave a Comment