Report: Qatar buying stake in Washington teams
A person with knowledge of the sale says the Qatar Investment Authority is buying a roughly 5% stake of Monumental Sports & Entertainment, the parent company of the NBA's Washington Wizards, NHL's Washington Capitals and WNBA's Washington Mystics, as part of a $ billion deal. The person spoke to The Associated Press on condition of anonymity Thursday because the agreement had not been announced. It is believed to be the first time the government of Qatar is investing in professional sports. Qatar last year hosted soccer's World Cup for the first time, helping FIFA reach a record revenue level because of booming ticket and hospitality sales. The company also owns the Capital City Go-Go of the NBA G League and recently took over the media outlet formerly known as NBC Sports Washington, now Monumental Sports Network....
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