News Wizards Team Notes

[Washington Wizards]

Laurene Powell Jobs sells Monumental Sports & Entertainment stake, Qatar Investment Authority increases its stake

Monumental Sports & Entertainment announced on Wednesday that the Qatar Investment Authority has acquired a larger stake of ownership within Monumental Sports & Entertainment (MSE), the conglomerate that owns the Washington Wizards, Mystics and Capitals.

In a statement, Mohammed Saif Al-Sowaidi, CEO of QIA said the following:

Since QIA first invested in MSE in 2023, the company has continued to create tremendous value for both fans and investors. We are delighted to further our partnership with the company as it welcomes Arctos – demonstrating the continued potential in the commercialization of professional sports. QIA’s continued commitment to MSE is an example of our focus on long-term, high-growth investments, and our growing portfolio of sports and entertainment investments with likeminded partners.

QIA increased its stake in MSE by acquiring Laurene Powell Jobs’ stake, according to Mike Vorkunov and Josh Robbins of The Athletic. Jobs was once the second-largest shareholder within MSE.

In addition, Arctos, a private sports investment fund, became an investor in MSE.

NBA regulations allow sovereign states and foreign investment funds to own up to 20 percent of a team. However, they must be passive investors.

Source: https://www.bulletsforever.com/late...atar-investment-authority-increases-its-stake