A bidder has emerged to purchase the new NBA team from London, offering $1 billion.
Source: eurohoops.net
American tech billionaire Nikesh Arora is currently in talks to acquire a new London-based team set to compete in the NBA’s European project, according to The New York Times.
The 58-year-old CEO of Palo Alto Networks has assembled a consortium of investors prepared to offer $1 billion (approximately £740 million) for the London franchise, which is regarded as one of the most valuable assets in the NBA’s new European league.
Previously, Arora secured a deal to purchase a 49% stake in the cricket franchise London Spirit for £145 million, giving him substantial experience and insight into the advantages of the British market.
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