Laurene Powell Jobs is selling her stake in Monumental Sports & Entertainment (MSE), which owns the Washington Wizards and several other sports franchises, to private equity firm Arctos Partners and the Qatar Investment Authority.
Laurene Powell Jobs, a stakeholder in the Washington Wizards, is selling her stake in Monumental Sports & Entertainment (MSE) to private equity firm Arctos Partners and the Qatar Investment Authority (QIA), a Qatari sovereign wealth fund, MSE announced Wednesday via The Athletic.
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MSE owns the NBA’s Washington Wizards, along with several other Washington sports franchises, including the WNBA’s Washington Mystics, the NHL’s Washington Capitals, the G League’s Capital City Go-Go, and Monumental Sports Network.
Powell Jobs, whose late husband was Apple co-founder Steve Jobs, has held a minority share in Monumental since 2017. She runs the Emerson Collective, known for its venture capital investments and philanthropic work.
It is not yet clear how much of her stake QIA and Arctos will acquire.
Under NBA rules, individual sovereign wealth funds and private equity firms can own a maximum of 20 percent of a team, with teams allowed to sell no more than 30 percent of their equity to such investors. These investors must remain passive and cannot exercise governing authority over the teams.
QIA first invested in Monumental Sports in 2023, acquiring a 5 percent stake shortly after the NBA adjusted its rules to allow sovereign wealth funds to invest in teams.
Arctos Partners is a leading sports-focused private equity firm and one of the earliest investors in NBA teams, holding stakes in the Golden State Warriors, Utah Jazz, Sacramento Kings, and Philadelphia 76ers.
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