- July 28, 2021
- Posted by: Stratford Team
- Category: Business
U.S. President Barack Obama attends the game between the Chicago Bulls and the Cleveland Cavaliers on October 27, 2015 at the United Center in Chicago, Illinois.
Gary Dineen | National Basketball Association | Getty Images
Former President Barack Obama has become a strategic partner and minority owner in the National Basketball Association’s Africa business, which oversees the Basketball Africa League.
The NBA launched its Africa entity in May and values the business as a nearly $1 billion venture. NBA Africa oversees the BAL, which held its inaugural season last May, and has investors including Dikembe Mutombo, Grant Hill and Junior Bridgeman. The league said Obama would use his stake in NBA Africa to fund the Obama Foundation youth and leadership programs across Africa.
Terms of Obama’s equity stake were not disclosed.
Under the leadership of CEO Victor Williams, NBA Africa wants to establish corporate partnerships, expand content and media rights, and…
