Former President Obama acquires stake in NBA Africa

Updated Jul. 28, 2021 9:57 a.m. ET

share

facebookxredditlink

JOHANNESBURG (AP) — Former U.S. President Barack Obama has acquired a stake in the NBA's Africa business through his foundation, the NBA said Tuesday.

Obama will have a minority equity stake in NBA Africa, a new entity set up this year to run all the league's business on the continent.

The NBA said Obama would use his stake to fund the Obama Foundation's youth and leadership programs in Africa.

Obama has been

NBA Africa and world body FIBA combined to set up a pro basketball league in Africa. The Basketball Africa League held its inaugural season in May after being delayed for a year by the coronavirus pandemic. It featured the top teams from 12 African countries.

___

More AP NBA: https://apnews.com/NBA and https://twitter.com/AP_Sports

share

in this topic

National Basketball Association