Late last year, the league witnessed a change that no other major leagues in the United States has ever seen. Reports emerged stating that the Board of Governors voted to change a rule about the ownership of teams. As per ESPN, the rule change now allows “sovereign wealth funds to buy stakes in teams in addition to other institutional funds, such as endowments and pension funds.” With this development, foreign companies could stretch their hands and dabble in the NBA by holding a maximum 20% stake in teams. Following this, companies across the world have started drawing out plans. With that said, one region, in particular, has shown extreme interest in the league.

The league is opening its arm to foreign entities and companies. According to Bloomberg, two billion-dollar companies from the middle east are interested in investing in the league. The report read that the executives at Abu Dhabi?s Mubadala Investment Co. and Qatar Investment Authority are keen to bag the ownership of an NBA Team. Furthermore, the report read ?one target could be the New York Knicks.?

NBA Fans weigh in on the recent development

As this news reached devices across the country, fans expressed their displeasure online. They wrote that the league and sport will face ruins if foreign companies that are in the discussion would invest in the league. Fans bluntly stated to be against this move. They urged the current owners of the New York Knicks not to entertain the request. With that said, some fans wrote that they were excited to see if these companies invested in a team like the Knicks, who are currently not having a dream of a season. Here are some of the reactions:

https://twitter.com/LeATL_23/status/1626409381725077504?s=20

Madison Square Garden Sports is looking to sell minority stakes

The reason the New York Knicks are in the pool of discussion is that MSG Sports reportedly are looking to sell minority stakes of the franchises that fall under their border. These franchises are the New York Knicks and the New York Rangers. Throughout the season, the Knicks fans have urged the owner James Dolan to sell the franchise.

Read More: 23-Year-Old Luka Doncic Makes NBA History Following Michael Jordan, Kobe Bryant After Another Unreal Display

These feelings emerge from the state of the team and how the front office has functioned in recent years. With that said, the Knicks have made some positive changes to their roster. Jalen Brunson, who has an average of 23.9 points per game, is slowly marching toward becoming the face of the franchise. Additionally, Julius Randle (average of 24.8 points per game) is representing the Knicks in the All-Star Weekend, giving them a huge morale boost.

Despite these positive developments, fans continue to hope for a change in ownership. However, according to the Bleacher Report, James Dolan said, “I have no plans whatsoever to sell at this point. I’m not retiring anytime soon. It’s a family-controlled asset, so someone in the family will eventually own it.”?

Watch This Story ??Luka Doncic surpasses Lakers legend Magic Johnson; Second only to Oscar Robertson in iconic NBA record?

With these rampant developments, it will be interesting to see what the future holds for the league in general and the New York Knicks franchise.