Our sports correspondent reported that global law firm Hogan Lovells advised GameAbove Sports, a company focusing on worldwide sports business development and strategic investments, to acquire an ownership stake in the Brisbane Bullets, a premier team in Australia’s National Basketball League (NBL).
GameAbove Sports Expands Its Global Footprint
This acquisition marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. It also signals a commitment to enhancing the Brisbane Bullets’ success and contributing to the growth of basketball in Australia and beyond.
“We are excited to become a meaningful part of the Brisbane Bullets organization,” said GameAbove and CapStone Holdings Founder and Chairman Keith J. Stone. “The NBL has seen tremendous growth and international recognition, and we believe in the potential of this franchise as a key player in the future of basketball. Partnering with a city that will soon host the world during the 2032 Olympics only strengthens our vision for the future.”
NBA Legend George Gervin Joins Ownership Group
As part of this investment, NBA Hall of Famer George Gervin, known as “The Iceman,” will also join the ownership group with GameAbove Sports in the franchise.
“Basketball has always been my passion, and to be part of a franchise like the Brisbane Bullets is an incredible opportunity,” said Gervin. “Australia has a rich basketball culture, and the Bullets have a storied legacy. I look forward to helping elevate the team and build toward a bright future, especially with the upcoming Olympics in Brisbane.”
Strengthening The Brisbane Bullets’ Profile
The Bullets, a cornerstone of Brisbane’s sporting landscape, are positioned to grow locally and internationally in the lead-up to the Olympics. GameAbove Sports’ involvement and George Gervin’s influence will “help strengthen the team’s profile and support its ambitions on the world stage,” the company noted in a media release, “during a period when sports in Brisbane will be highlighted around the world.”
“We are thrilled to welcome GameAbove Sports to the Brisbane Bullets ownership group,” said CEO Malcolm Watts. “Bringing on Keith and George to our already impressive group of owners is a very exciting moment for the club. Keith adds strategic value with his experience in owning and operating a multitude of companies across various sectors, including the sports industry. And George, a Hall of Famer and one of the best shooting guards in NBA history, validates that we are building something special on the basketball side here in Brisbane. We look forward to the insights that “The Iceman” can provide to our current players and our fanbase.”
GameAbove Sports’ Expansion In The Australian Market
GameAbove Sports’ entry into the Australian sports market is significant to its holdings company, Capstone Holdings, Inc., and its real estate investment in Wollongong, New South Wales. Since 2021, CapStone Holdings has partnered with Blaq Projects to bring “$1.1B USD in new development to the region.”
This latest acquisition of an ownership stake in the Brisbane Bullets further demonstrates GameAbove Sports’ commitment to expanding its strategic portfolio by investing in professional and youth teams, franchises, and leagues globally with innovative and flexible investment methods in meaningful minority and majority ownership positions.
The Hogan Lovells deal team was led by partner and New York Office Managing Partner Michael Kuh (Private Equity & Funds), counsel Grant Munyon (M&A, Philadelphia), senior associate Emma Dowell (Private Equity & Funds, Northern Virginia), associate David Duquette (General Corporate & Finance, New York), and Visiting International Lawyer Harrison Gower (M&A, New York).
Table of Contents