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by wyxuan 1661 days ago
They’re going for a minority stake, along with a few other intermediate milestones
1 comments

The NBA has a rule where a team can have no more than 25 total owners and the least an owner can hold is 1%. It was created in response to shenanigans by team owners where they would sell tiny fractions of a percent of the company to friends and family so they could claim they owned teams.

So unless one of them have at least $12M laying around, I don't see any of them being able to do this.