Maverick Carter, business manager for LeBron James, is advising a group aiming to raise $5 billion for a new international basketball league, which would rival the NBA.
While the league seeks to create six men's and six women's teams playing globally, sources clarify that LeBron James is not involved in this initiative, despite Carter's connection.
The last notable rivalry to the NBA was the American Basketball Association in the 1970s. Any resurgence of competition could change the landscape of professional basketball.
The group plans to secure funds from private equity and sovereign wealth, but current NBA regulations limit private equity stakes and prohibit them from governing.
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