Qatar sovereign fund boosts its stake in Monumental Sports

The Qatar Investment Authority has increased its stake in Monumental Sports & Entertainment, the owner of U.S. teams including the NBA’s Washington Wizards and the WNBA’s Washington Mystics, alongside private equity sports investor Arctos Partners.

The QIA and Arctos are purchasing the passive minority shares from Laurene Powell Jobs, the billionaire philanthropist and wife of the late Apple Founder Steve Jobs, at a reported enterprise value of $7.2 billion. While it is not clear how much equity each party is taking, Jobs bought about 20% of Monumental in 2017 and was the group’s second biggest shareholder after founder Ted Leonsis. She reportedly sold some of her holdings in a previous deal.

When the QIA purchased a 5% stake in Monumental in 2023 in a deal that valued the group at $4 billion, it marked the first time a sovereign wealth fund had invested in major U.S. sports teams. Along with the Wizards and Mystics, the group owns the NHL’s Washington Capitals, the G League’s Capital City Go-Go and Monumental Sports Network.

The deal comes as Saudi Arabia’s Public Investment Fund is reported to have made its first major investment move into padel, a fast-growing sport that has so far been largely bankrolled by the QIA, which owns the primary global padel tour, Premier Padel. PIF-backed sport and entertainment agency 54 has allied with the team-based Hexagon Cup tournament and the International Padel Federation to create a new global team circuit, the Hexagon World Series.

Meanwhile, Manchester City FC, the English Premier League soccer club owned by Sheikh Mansour bin Zayed, the UAE Vice President and Deputy Prime Minister, has reported a loss of £9.9 million ($13 million) for 2024-25, after a lackluster season – the first time in eight years it finished without a trophy. 

“There is no doubt that last season’s football results were less than we had hoped for,” Manchester City Chairman Khaldoon Al Mubarak, who is also Managing Director and Group CEO of Abu Dhabi’s Mubadala sovereign wealth fund, said. “Seasons like this are an inevitable part of the game”. 

Saudi sovereign fund acquires MBC television in $2 billion deal

Saudi Arabia’s Public Investment Fund agreed to buy a 54% controlling stake in MBC Group, consolidating its leadership in revamping the kingdom’s approach to media and entertainment.

The near $2 billion purchase essentially transfers the company – one of the Middle East’s biggest broadcasters – from one Saudi government entity to another. Under terms of the deal announced on Thursday, the sovereign wealth fund is buying MBC’s shares from Istedamah Holding Co., a subsidiary of the Ministry of Finance.

MBC Group was founded in 1991 in London by investor Walid Al-Ibrahim and a group of partners, established as the first independent Arabic satellite TV channel and later growing to launch the streaming service Shahid. Walid retains a 40% stake in MBC and will continue as its Chairman.

As part of its strategy under the new ownership, MBC said it will invest heavily in local content production in Saudi Arabia, expand its streaming offerings on Shahid and explore expansion into music, gaming and live events.

The PIF, which has spearheaded Crown Prince Mohamed bin Salman’s strategy to diversify the economy from dependence on oil, has assembled a collection of media and entertainment properties, including Savvy Games, the Sela sports and events group and the tourism-focused Asfar fund.