Former minority owner of President Barack Obama in Africa of the NBA business

US President Barack Obama participates in the game between Chicago Bulls and Cleveland Cavaliers on October 27, 2015 at the United Center in Chicago, Illinois.

Gary Dineen | National Basketball Association | .

Former President Barack Obama has become a strategic partner and minority owner in Africa of the National Basketball Association business, who oversees the Basketball Africa League.

The NBA has launched its African entity in May and values ​​the business like nearly $ 1 billion venture. NBA Africa oversees BAL, which held its inaugural season last May, and has investors including Dikembe Mutombo, Grant Hill, and Junior Bridgeman. The league he said Obama would do it use his mail in NBA Africa to fund youth and Obama Foundation leadership programs in all of Africa.

Terms of Obama’s equity stake was not disclosed.

Under the guidance of CEO Victor Williams, NBA Africa wants to establish corporate partnerships, expand content And media rights, e support local governments seeking to build new basketball arenas. The BAL includes 12 teams, And league games air in 215 countries and territories, and the NBA expects basketball to be a flagship sport in all of Africa in 10 years.

Currently, 55 players who do they come from Africa or whose? parents I’m native Africans play in the NBA. Team owners view the BAL as a way to find and develop talent in across the continent in rapid growth and another path to expand their own global appeal. Sports Betting Partners Could also test new technologies in the league.

Industrial based in Nigeria group Yinka Folawiyo Group and Helios Fairfax Partners Corporation, an investment holding company that trades on the Toronto Stock Exchange under the symbol “HFPC”, are investors in NBA Africa, along with former NBA players Luol Deng and Joakim Noah are also investors. Additionally, NBA Commissioner Adam Silver and NBA Chief Operating Officer Mark Tatum have board seats.

Benjamin Chukwukelo Uzoh 2nd R of Rivers Hoopers of Nigeria contends with Wilson Nshobozwa of Patriots Rwanda during the inauguration game of the first edition of the Basketball Africa League BAL in Kigali, capital city of Rwanda, May 16, 2021.

Cyril Ndegeya | Xinhua News Agency | .

“The NBA has always been one great ambassador for the United States-using the game to create deeper connections around the world, And in Africa, basketball has the power promoting opportunity, well-being, equality and empowerment in across the continent, “Obama said in a declaration. “By investing in community, promoting gender equality and cultivating love of the game of basketball, I believe NBA Africa can make a difference for so many of of Africa young people. “

Obama praised “the NBA’s commitment to Africa, including the leadership shown by so many Africans players who want to give back to themselves countries and community “.

“We are honored that President Obama has become a strategic partner in NBA Africa and will support our wide-ranging efforts to grow the game of basketball on the continent,” added Silver via declaration. “In addition to his well-documented love for basketball, President Obama has a firm belief in The potential of Africa is enormous growth opportunities that exist through sports. NBA Africa will benefit enormously from your commitment. “

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