For the very first time, the government of Qatar invested Thursday in American professional sport by buying shares in the company that owns the Washington Capitals.
According to the Sportico site, the Qatar Investment Authoriy (QIA) is now the minority owner, up to 5%, of Monumental Sports & Entertainment. The Washington-based group owns the Capitals (NHL), Wizards (NBA) and Mystics (WNBA).
The home of the “Caps”, the Capital One Arena, is also under their control.
By investing $4.05 billion, the Middle Eastern country made its first breakthrough on the North American continent. Trying to make its mark on the international sporting landscape, Qatar hosted the FIFA World Cup last year.
Still in the world of football, Qatar Sports Investments has been the majority shareholder of Paris Saint-Germain since 2011.
In the NBA, however, a SWF is not permitted to invest more than 20% in a franchise and new entrants are expected to have no control over Monumental Sports & Entertainment’s proceeds.