Qatar’s sovereign wealth fund is buying a roughly 5 percent stake in the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics as part of a $4bn deal, news reports say.Bloomberg News and The Associated Press quoted sources speaking on condition of anonymity because the agreement between the Qatar Investment Authority and Monumental Sports & Entertainment had not been officially announced.It is believed to be the first time the government of Qatar is investing in US professional sports. Sportico first reported the transaction, saying it is the first time any sovereign wealth fund has bought into ownership of an American team.
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