National Basketball Association (NBA)

NBA mulling an investment fund for team equity

Illustration of a stack of money being thrown at a basketball hoop
Illustration: Sarah Grillo/Axios

The National Basketball Association is considering the creation of an investment fund that would buy small equity stakes in a portfolio of teams, as first reported yesterday by Bloomberg.

Why it matters: NBA owners are concerned that skyrocketing team prices mean that there's a limited number of individuals who could buy the next teams put up for sale. Or, as one league source put it: "There are only so many Steve Ballmers and Joe Tsais."

Ice Cube hopes his BIG3 basketball league can rejuvenate NBA careers

Ice Cube. Photo: David Becker/Getty Images

As the third season of Ice Cube's 3-on-3 basketball league, the BIG3, comes to a close with its championship game on Sunday, the league's MVP, Joe Johnson, 38, has received interest from multiple NBA teams following the season and will workout for the 76ers today, ESPN reports.

Why it matters: The BIG3 has had to fight against the stigma that it's nothing more than a haven for washed up former pros, so Johnson returning to the NBA would be extremely validating — proof that the league can not only help players leave basketball on their own terms but even rejuvenate their careers.