Basketball sensation: NBA stars invest in new tournament!

Four-time NBA champion LeBron James and two-time league champion Kevin Durant have joined the group of investors backing the Futures Basketball League (FBL), a new American basketball competition.

According to TodayPress TV, citing ESPN, the tournament is designed for promising basketball players under the age of 18 and is scheduled to launch in April 2027.

Teams in the new league are already being offered to investors for $6 million each, with buyers also receiving a stake in the league itself. James is involved through his investment firm LRMR Ventures, which he developed alongside his business partner Maverick Carter. Durant has joined the initiative through Boardroom Sports Holdings, which is associated with his business partner Rich Kleiman.

Other team owners include former NBA Most Valuable Player Derrick Rose, Orlando Magic forward Paolo Banchero and entrepreneur Gary Vaynerchuk.

The inaugural season is expected to feature 12 regional teams comprising 120 young basketball players. The FBL's first season will run from April to August 2027. Teams will compete over 10 weekends, followed by a final tournament to determine the champion.

Players will receive compensation for the use of their name, image and likeness (NIL). They will be able to receive this compensation in cash, through an equity stake in the league under appropriate agreements, or through a combination of both.

The organisers aim to provide young players with professional training facilities while allowing them to continue competing in school and college basketball.