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Qatar sovereign wealth fund buys stake in Washington's NBA, NHL and WNBA teams, AP source says
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FILE - An exterior view of Capital One Arena is seen Saturday, March 16, 2019, in Washington. Capital One Arena is home to the Washington Capitals NHL hockey team and Washington Wizards NBA basketball team. A person with knowledge of the sale tells The Associated Press the Qatar Investment Authority is buying a 5% stake of the parent company of the NBA's Washington Wizards and NHL's Washington Capitals for $4.05 billion. It is believed to be the first time the government of Qatar is investing in North American professional sports. - photo by AP Photo/Nick Wass
Qatar's sovereign wealth fund is buying a roughly 5% stake in the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics as part of a $4.05 billion deal, a person with knowledge of the sale said Thursday. The person spoke to The Associated Press on condition of anonymity because the agreement between the Qatar Investment Authority and Monumental Sports & Entertainment had not been announced. It is believed to be the first time the government of Qatar is investing in U.S. professional sports.