The global nature of the NBA makes it the most likely to see a multinational coalition of owners much like what exists in the English Premier League or Formula 1, the panelists said. Still, that expression of interest “was just the beginning,” Galatioto said, and Levine and Ozanian noted investments in a growing number of sports by Saudi Arabia and Qatar, who have sought leverage in soccer and boxing. “I absolutely believe that.” By way of example, Galatioto recalled advising Los Angeles Angels owner Arte Moreno as he explored a sale of the team, “we had several bidders from Asia - Korea, Japan - who were very, very interested in the team,” he said.Ī sale never happened because Moreno changed his mind. “There is going to be more foreign investment,” he said. Until 2016, Japan-based Nintendo had a majority interest in baseball’s Seattle Mariners, he pointed out. sports leagues - the NFL, NBA, NHL and Major League Baseball - have no explicit provisions barring ownership of teams by overseas entities. Katie Holmes To Mentor Saudi Female Filmmakers: 'I Believe Women From All Parts Of The World Should Be Empowered To Follow Their Ambition' PGA Tour And Saudi-Backed LIV Golf Agree To Merge, Ending Bitter Legal FeudĪri Emanuel Compares CAA To Walmart, Talks LIV Golf, Saudi Arabia & Endeavor Succession Plans In 'Freakonomics' Interview CAA Sports co-head Michael Levine, Sal Galatioto and Forbes editor Michael Ozanian said the notion of Saudi Arabia buying its way into the sport of golf - while controversial in many quarters - is a sign of the global appeal of sports properties, whose value has continued to appreciate. That was the consensus on a panel of sports media veterans assembled Thursday at Gabelli Funds’ 15th annual Media and Entertainment Symposium in New York. As the shockwaves continue to reverberate from Tuesday’s news of the planned merger of Saudi-backed LIV Golf and the PGA Tour, it appears likely that a lot more foreign money will soon start to flow into U.S.

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