Former U.S. President Barack Obama has purchased a stake in the NBA’s Africa business, the Basketball Africa League, through his foundation, the NBA said Tuesday.
Obama will have a minority value stake in NBA Africa, a new entity set up this year to maintain all the league’s business on the continent.
The NBA said Obama would utilize any benefits to fund the Obama Foundation’s youth and leadership programs in Africa.
Obama has been connected to the NBA’s Africa tasks since 2019, in spite of the fact that it wasn’t clear until Tuesday precisely what his association would be.
NBA Africa and world body FIBA consolidated to set up the first pro basketball league in Africa. The Basketball Africa League held its debut season in May subsequent to being postponed for a year by the Covid pandemic. It included the top teams from 12 African nations.