nba – Duane Morris Sports Law

May 8, 2023May 30, 2023 by Duane Morris

The NBA’s New Collective Bargaining Agreement Provides Key Changes in Cannabis-Related Matters

On April 26, 2023, the National Basketball Association (NBA) announced the ratification of its new, seven-year Collective Bargaining Agreement (CBA) with the National Basketball Players Association (NBPA). The CBA will take effect on July 1, 2023, and will run through the 2029-30 season. The CBA provides, among other things, certain key changes to cannabis-related matters, particularly in connection with the NBA’s Anti-Drug Program and NBA players’ business opportunities.

To read the full text of this post by Duane Morris attorney Robert Davydov, please visit the Duane Morris Cannabis Law Blog.

December 8, 2022December 8, 2022 by Duane Morris

NBA to Permit Sovereign Wealth Fund Investors in Franchises as Valuations Soar

By Alexander Chester

The National Basketball Association (“NBA”) Board of Governors has voted to permit sovereign wealth funds, pension funds and university endowments to invest in NBA teams. Major U.S. sports leagues have traditionally limited who they permit as owners of their franchises, not just for controlling general partners, but for limited partners as well, even though limited partners are traditionally passive owners with no governing rights. However, two years ago the NBA became the first major U.S. sports league to permit private equity investors, and now the league is broadening the scope of potential investors as franchise valuations continue to skyrocket. There are only so many Americans with pockets deep enough to afford franchises that are being sold for several billion dollars, and so the NBA has realized that it needs to expand the pool of possible buyers. Continue reading “NBA to Permit Sovereign Wealth Fund Investors in Franchises as Valuations Soar”