NEW YORK, NY - JUNE 22: Markelle Fultz walks on stage with NBA commissioner Adam Silver after being drafted first overall by the Philadelphia 76ers during the first round of the 2017 NBA Draft at Barclays Center on June 22, 2017 in New York City. (Image: Getty)
NBA commissioner Adam Silver announced the formation of a new business investment entity called NBA Africa on Monday. NBA Africa includes investments from former NBA stars and legends.
The newly formed NBA Africa will be doing business endeavors in Africa, including the new Basketball Africa League (BAL). Amongst the investors include NBA Hall of Famers Dikembe Mutombo and Grant Hill. Other investors include two Nigerian businessmen.
The league hopes that the funding will contribute towards the growth of the BAL and help the league expands its markets and influences in Africa. The league also hopes to increase the interaction with players and fans through initiatives such as the launch of NBA academies and social responsibility initiatives. Furthermore, the NBA Africa hopes to join the BAL’s efforts to improve the livelihoods of African youth and families, gender equality and economic inclusion efforts.
“With the expertise, resources and shared vision, the immensely successful investors and NBA legends, we believe that basketball in Africa can become a top sport over the next decade,” Silver said during a virtual news conference.
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Alongside Mutombo and Hill, former NBA players Junior Bridgeman, Luol Deng and Joakim Noah are also investors. African investors include businessman Babatunde “Tunde” Folawiyo, chairman and CEO of Yinka Folawiyo Group and the Helios Fairfax Partners Corporation, led by co-CEO Tope Lawani.
“There is nothing more important to me than helping young people grow into leaders,” Mutombo said during the news conference. “And the NBA has helped me and many other Africans create an incredible platform to make a difference. Africa has one of the youngest populations in the world, and Africa youth just need the opportunity and support to achieve great things. The new NBA Africa is the transformative next step to do just that.”
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