The Qatar Investment Authority has agreed to purchase a five percent minority stake in Monumental Sports & Entertainment, which is the parent company of the Washington Wizards.
Monumental owns the Wizards, Washington Capitals, Washington Mystics and Capital One Arena and the deal values the group at $4.05 billion.
Sportico values the Wizards at $2.7 billion.
The NBA in 2020 became the first major U.S. league to approve private equity investments.