"NBA Commissioner Adam Silver Rejects Sovereign Wealth Fund Control of Teams"
NBA commissioner Adam Silver stated that there are currently no plans for sovereign wealth funds to become controlling owners of NBA franchises, emphasizing the importance of individuals being responsible to fans, partners, and players. Under the NBA's current investment rules, the controlling owner must own at least 15% of the franchise, while sovereign wealth funds can only have a passive investment of up to 5%. Silver also discussed the increasing valuations of NBA teams, the suspension of Ja Morant, the possibility of expansion, and praised No. 1 draft pick Victor Wembanyama's maturity.