By
Though his childhood friend and business partner Maverick Carter is reportedly behind an effort to launch an international basketball league, Los Angeles Lakers superstar LeBron James is not involved, Front Office Sports reported.
According to Wednesday night’s report, the league is looking to be “an F1 for basketball,” not a competition for the NBA, which hasn’t faced a domestic rival since the ABA merger in 1976.
Looking to raise $5 billion to launch the venture, a group of investors — with Carter serving as an adviser — has turned to Evercore Inc. and UBS Group AG to help reach that goal via sovereign wealth funds, per a Bloomberg report.
