Washington guard John Wall latest NBA star to invest in NBL
The NBL has a cast of current and former NBA players involved in team ownership in a major boost for the league’s long-term financial future.
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Some of the NBA’s biggest names continue to invest in the NBL, with Washington Wizards guard John Wall purchasing a stake in the South East Melbourne Phoenix.
According to New York Times’ NBA writer Marc Stein, Wall is on the cusp of joining the Phoenix’s ownership group that is headed by LA-based entrepreneur Romie Chaudhari.
The Wizards sharpshooter will become the fifth current or former NBA player to buy an ownership stake in South East Melbourne, joining Dante Exum, Zach Randolph, Al Harrington, and Josh Childress.
Wall’s investment is a major boost for the long-term financial security of both the Phoenix and the NBL as a competition given he collected $52.4 million in earnings alone in 2019.
The Australian league is now littered with past and present NBA players investing in teams.
Brisbane is owned by a consortium led by long-time NBA guard Kevin Martin.
Just last week, Indiana‘s Victor Oladipo announced he had also purchased a minority stake in the New Zealand Breakers to team with Matt Walsh and Shawn Marion.
Boomers veteran Andrew Bogut also has a 10 per cent ownership in the Sydney Kings, with the option of a bigger stake in retirement.
Originally published as Washington guard John Wall latest NBA star to invest in NBL
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