Adam Silver Doesn't Fully Commit To Saying A Sovereign Wealth Fund Will Never Own An NBA Team

In light of the PGA Tour, LIV Golf, and the Saudi Arabia Public Investment Fund (PIF) announcing their plans for a merger, many are wondering whether or not the Saudis or other sovereign wealth funds would approach other sports and leagues. NBA commissioner Adam Silver has shut down the idea of a sovereign wealth fund for owning an NBA team, at least for now.

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Speaking at the AP Sports Editors convention, Silver said there are no pathways "in the foreseeable future" for a sovereign wealth fund swooping in and purchasing a franchise.

Having said that, Silver is not dumb and knows he can never say never. He's well aware of what the reality is now, and what it very well may be in the near future.

"I don't want to say what could ever happen, but there's no contemplation right now," Silver said. "I mean, it's very important to us. Putting aside sovereign wealth funds that individuals are in a position to control our teams, be responsible to the fans, be responsible to their partners and to the players."

Adam Silver won't say never when it comes to a sovereign wealth fund ever purchasing an NBA team. (Photo by David Dow/NBAE via Getty Images)

NBA Rules Back Adam Silvers Statement

As it stands under the current NBA investment rules, a sovereign wealth fund can only have a passive investment in a team no greater than 5%. The controlling owner of an NBA team has to own at least 15% of the franchise.

Qatar's sovereign wealth fund recently purchased a 5% stake in Monumental Sports & Entertainment. That gives the fund stakes in the Washington Wizards, Washington Capitals, and Washington Mystics.

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Sovereign wealth funds are very clearly not only showing interest in sports leagues and teams in North American sports but globally as well.

One of the most notable moves involving the Saudi PIF involves Newcastle of the Premier League. The Saudis purchased for the team for $409 million.

While the Saudi PIF is among the largest sovereign wealth funds in the world, it has its sights set on becoming the largest, passing Norway's by the year 2030. Between now and then the PIF will sink its teeth into other professional sports around the globe.