NBA Africa Worth Nearly $1 Billion, Led By Hall Of Fame Players

The NBA announced Monday that it has formed a business entity that will oversee its operations in Africa. Among the investors in NBA Africa are five former players, including Hall of Famers Dikembe Mutombo and Grant Hill.

NBA Africa will be responsible for running the Basketball Africa League, which got underway on May 16. According to NBA Commissioner Adam Silver, NBA Africa has an enterprise value worth nearly $1 billion.

“With the expertise, resources and shared vision, the immensely successful investors and NBA legends, we believe that basketball in Africa can become a top sport over the next decade,” Silver said in a virtual news conference.

Former Chicago Bulls star Luol Deng, a native of South Sudan, is an investor. Joakim Noah and Junior Bridgeman are the other ex-NBA players who have invested in NBA Africa.

Growing the BAL will be among the organization’s primary goals, along with launching more academies across the continent. The NBA hopes to help improve the lives of African youth and families, as well.

“This growth will come to life by, amongst other things, increasing the NBA’s footprint in Africa and opening additional offices in priority markets across the continent starting in countries like Nigeria, where there is already a strong affinity for the game,” NBA Africa CEO Victor Williams said.

Chairman and CEO of Yinka Folawiyo Group Babatunde “Tunde” Folawiyo and Helios Fairfax Partners Corporation co-CEO Tope Lawani are both investors and part of NBA Africa’s board of directors.

“There is nothing more important to me than helping young people grow into leaders,” Mutombo said during Monday’s news conference. “And the NBA has helped me and many other Africans create an incredible platform to make a difference. Africa has one of the youngest populations in the world, and Africa youth just need the opportunity and support to achieve great things. The new NBA Africa is the transformative next step to do just that.”