D.C. United Owner Buys Stake in Australian Basketball Team

Jake Silverstein, co-owner of Major League Soccer's (MLS) DC United and Swansea City in the Championship, has acquired a minority position in the Brisbane Bullets of Australia's National Basketball League (NBL).

According to Sportico, Silverstein, the chairman and CEO of Stormlight Holdings, the Silverstein family's private investment arm, has purchased around 20% of the Bullets. The NBL team is allegedly valued at $30 million in the purchase.

Silverstein retains his MLS ties by joining D.C. United CEO Jason Levien's controlling ownership group. Silverstein was a co-owner and alternate governor of the MLS Houston Dynamo FC and the NWSL Houston Dash before selling his ownership last year.

Khris Middleton of the Milwaukee Bucks, Thaddeus Young of the Toronto Raptors, and former NBA player Kevin Martin are all members of the Bullets' ownership group.

The Bullets ownership group is said to be in talks with government authorities on a $250 million plan that includes a 12,000-14,000-seat arena and an adjacent entertainment district.

Silverstein and the ownership group intend to make the Bullets a "dominant force" in the NBL, according to Silverstein.




Photo credit: © Jakub Gojda, Dreamstime.com