An NBA spokesman has confirmed that <a href="https://www.thenationalnews.com/tags/qatar/" target="_blank">Qatar's</a> sovereign wealth fund is seeking to acquire a stake in the group that owns the NBA's Washington Wizards. The proposed deal would see the Qatar Investment Authority (QIA) buy a minority stake in Monumental Sports & Entertainment, the group led by Ted Leonsis that owns the Wizards, the WNBA's Mystics and the NHL's Washington Capitals and would represent a groundbreaking move by a sovereign wealth fund into US pro team sports. "The NBA Board is currently reviewing a potential investment by QIA in Monumental Sports & Entertainment, the parent company of the Washington Wizards, among other sports properties," NBA spokesman Mike Bass said in a statement. <i>The Washington Post</i>, citing a person familiar with the terms, reported that the state-owned Qatari fund was seeking to acquire a 5 per cent stake in Monumental Sports & Entertainment. Bass noted that the NBA had adjusted its rules in November 2022 to "permit passive, non-controlling, minority investments in NBA teams by institutional investors, including university endowments, foreign and domestic pension funds, and sovereign wealth funds, subject to a set of policy guidelines adopted at that time. "All such investments require league review, NBA Board approval and compliance with the policy," he added.