Al­lon to buy NBA shares

The Jewish Chronicle - - SPORT - BY SI­MON GRIVER

BASKETBALL IS­RAELI start-up en­tre­pre­neur Ori Al­lon is in ad­vanced talks to buy an eight per cent stake in NBA out­fit Bos­ton Celtics, ac­cord­ing to re­ports.

Forbes val­ues the Celtics at $2.5 bil­lion. A source close to the pro­posed deal said that ne­go­ti­a­tions have been on­go­ing for two months and talks are at an ad­vanced stage.

Ear­lier this week, US-based Al­lon an­nounced he is re­lin­quish­ing own­er­ship of the Hapoel Jerusalem basketball team. He will hand over the team to the other in­vestors af­ter Hapoel lost in the fi­nal four to Hapoel Holon.

Based in New York, Al­lon in­sists he is leav­ing Hapoel be­cause of the growth of his US-based real estate bro­ker­age plat­form com­pany Com­pass, which re­cently raised $450 mil­lion from Ja­pan’s Soft­bank.

Since tak­ing a stake in Hapoel in 2013, Al­lon’s heavy fund­ing saw them be­come Is­raeli cham­pi­ons for the first time in their his­tory in 2015, and win the ti­tle again in 2017.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.