Qatar’s sovereign wealth fund is buying a roughly 5 percent stake in parent company of NBA's Washington Wizards, NHL's Washington Capitals and WNBA's Washington Mystics as part of $4.05 billion deal, AP reports
Capital One Arena is home to the Washington Capitals NHL hockey team and Washington Wizards NBA basketball team. / Photo: AP Archive
The person spoke to The Associated Press on Thursday on condition of anonymity because the agreement between the Qatar Investment Authority and Monumental Sports & Entertainment had not been announced.Sportico It is not Qatar's first big foray into major sports. The Middle Eastern country last year hosted football's World Cup for the first time, helping FIFA reach a record revenue level because of booming ticket and hospitality sales.
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