Is a $5B basketball league on cards? A meeting between LeBron James and Nikola Jokic's agent indicates so
Reports about building a $5 billion basketball league have been circulating since January. It appears that more developments are underway in this direction. Nikola Jokic's European Agent, Misko Raznatovic, shared a picture from a private yacht meeting on his Instagram.
In the picture,
LeBron James
, his business partner, Maverick Carter, and Jokic's agent can be seen. A recent report at Front Office Sports suggests that the meeting was about a basketball league. Here is everything you should know about this new league.
Nikola Jokic's European Agent Misko Raznatovic met LeBron James reportedly for a new basketball league
A casual-looking meeting on a private yacht could be much more than basketball titans vacationing together. Nikola Jokic's Agent, Misko Raznatovic, threw light on this important meeting he had with LeBron James on a private yacht. A recent Front Office Sports report suggests that the meeting was not about LeBron joining the Nuggets or Jokic joining the Lakers. It was a gigantic plan taking shape. Misko captioned the image as:
'The summer of 2025 is the perfect time to make big plans for the fall of 2026!'
If things take a definite direction, the new league is going to be a competition for the NBA.
Another update shared by Legion Hoops on X suggests other details about the league. Though the new league is seeking funding of $5B, it still looks dwarfed as comparison to $76 billion worth of TV rights NBA has recently sold, per Associated Press' report dated July 11, 2024.
Possible format of new basketball league by LeBron James revealed
A latest update on X by Legion Hoops has provided crucial details about the new proposed league.
As per this update, the league is going to feature six men's and six women's teams.
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The format will be touring pattern where the teams will contend at six home courts, similar to the pattern of F1 and LIV Golf. An interesting twist in the structure is that, unlike the NBA, the league will be based on a player equity model.
Who would be investing in new $5B basketball league?
The key investors in the league will be the Singaporean Government, the Saudi Arabian sovereign wealth fund, and a casino operator from Macau, Yahoo Sports quoted a Financial Times' update.
What the exact role of LeBron James would be in the new league has not been revealed yet.
Who would be playing in the proposed $5B basketball league?
The new league is reportedly going to capitalize on the growing presence of basketball in the European region. A report from Yahoo Sports suggests that EuroLeague, an international league led by Carter, and the NBA's interest in expanding in Europe with new teams are going to put up a fight to this new league.
Since the proposed league will require NBA players to quit the NBA to sign up for this league, the possible players remain difficult to guess.
Also Read:
The Los Angeles Lakers might lose LeBron James in 2026 after his surprising meeting with Nikola Jokic's agent
FAQs
What will be the capital size of the new proposed basketball league?
The proposed basketball league is going to be a $5B venture.
What is the relation between LeBron James and Maverick Carter?
LeBron James and Maverick Carter are long-time business partners.
What are the various businesses of Maverick Carter?
With LeBron James, Maverick Carter co-founded the holding company LRMR Ventures. Maverick is chief executive officer (CEO) of SpringHill Company, Uninterrupted, and the Robot Company, which are a part of LRMR Ventures.
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