NBA forms Africa business entity valued at nearly $1 billion, luring players and investors

The National Basketball Association has formed its Africa business operation, luring investors and former players, including Dikembe Mutombo, Grant Hill and Junior Bridgeman.

NBA Africa will oversee the league’s business throughout the continent, including operating Basketball Africa League, which launched on May 16. The entity will establish corporate partnerships, expand content and media rights and provide support for local governments seeking to build new basketball arenas. The NBA envisions basketball being a top sport throughout Africa in 10 years.

Specific terms of the investment in NBA Africa were not made available, but NBA Commissioner Adam Silver said in a press conference Monday that the enterprise value for NBA Africa is nearly $1 billion.