Jun 23, 2023
The Qatar Investment Authority purchased a roughly 5% stake in Monumental Sports & Entertainment, becoming the first sovereign wealth fund to invest in a major U.S. professional sports team.
Monumental owns the NBA’s Washington Wizards and NHL’s Capitals, as well as the WNBA’s Mystics. Qatar’s investment values Monumental at around $4 billion, Front Office Sports confirmed.
The investment was first reported by Sportico.
Qatar’s biggest sports investment to date came in 2012, when it purchased majority ownership of Paris Saint-Germain, the French soccer powerhouse valued at $4.2 billion. In a similar vein, Saudi Arabia’s Public Investment Fund has invested in LIV Golf and pro soccer.
Source: Front Office Sports