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Qatar sovereign wealth fund buys stake in NBA, NHL, WNBA: Reports

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Qatar sovereign wealth fund buys stake in NBA, NHL, WNBA: Reports

Fund is buying a roughly 5 percent stake in Washington sports teams as part of a $4bn deal, the Associated Press and Bloomberg report.

Qatar’s sovereign wealth fund is buying a roughly 5 percent stake in the parent company of the NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics as part of a $4bn deal, news reports say.

Bloomberg News and The Associated Press quoted sources speaking on condition of anonymity because the agreement between the Qatar Investment Authority and Monumental Sports & Entertainment had not been officially announced.

It is believed to be the first time the government of Qatar is investing in US professional sports. Sportico first reported the transaction, saying it is the first time any sovereign wealth fund has bought into ownership of an American team.

It is not Qatar’s first big foray into major sport. The Middle Eastern country last year hosted football’s World Cup for the first time, helping FIFA reach a record revenue level because of booming ticket and hospitality sales.

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Qatar Sports Investments, a subsidiary of the state-run fund, has owned majority control of French football club Paris Saint-Germain since 2011. The same group agreed in October to buy a 22 percent stake in Portuguese club Braga.

Getting into a top US market, even as a minority partner, is further expansion of Qatari reach into the sports world.

NBA spokesperson Mike Bass said the league’s Board of Governors decided in November to allow “passive, non-controlling, minority investments in NBA teams by institutional investors, including university endowments, foreign and domestic pension funds and sovereign wealth funds, subject to a set of policy guidelines adopted at that time”. All investments fitting that bill require league review and NBA Board approval.

“The NBA Board is currently reviewing a potential investment by QIA [Qatar Investment Authority] in Monumental Sports & Entertainment, the parent company of the Washington Wizards, among other sports properties,” Bass said. “In accordance with the policy, if approved, QIA would have a passive, minority investment in the team, with no involvement in its operations or decision-making.”

NHL Deputy Commissioner Bill Daly said the league had already approved the investment.

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An expert in such transactions said sports are part of Qatar’s nation-branding and public diplomacy strategy and the move aligns with that strategy.

“Part of that strategy includes purchasing, sponsoring or buying equity in international sports organizations in Western markets, especially in central cities,” said Yoav Dubinsky, instructor of sports business in the Lundquist College of Business at the University of Oregon.

“From a political standpoint, it means further legitimising Qatar as a business partner in the West, including in the heart of American politics.”

Dubinsky added the size of the stake would likely limit the impact Qatar can have on the teams, unlike the control of Paris Saint-Germain. That would fit with the NBA’s definition of a passive, minority investment.

Neighbouring Saudi Arabia has also moved into US sports. Its sovereign wealth fund, which funded the upstart LIV Golf series, has agreed to a business partnership with the PGA Tour.

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Ted Leonsis, who has owned the Capitals since 1999 and been majority owner of the Wizards since 2010, is the founder, managing partner and CEO of Monumental. The company lists 20 other partners on its website, including Laurene Powell Jobs and Washington Nationals owner Mark Lerner.

Monumental also owns the Capital City Go-Go of the G League and Capital One Arena in Washington and recently took over the media outlet formerly known as NBC Sports Washington, now Monumental Sports Network.

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Top IKEA retailer warns tariffs could drive up consumer prices

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Top IKEA retailer warns tariffs could drive up consumer prices
For budget furniture retailer IKEA, the fewer trade tariffs there are the better, the CEO of Ingka Group, the biggest global IKEA franchisee, told Reuters on Monday as businesses brace for higher U.S. tariffs under President Donald Trump.
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Israeli president calls Trump a 'true friend' on Inauguration Day, praises his work to release hostages

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Israeli president calls Trump a 'true friend' on Inauguration Day, praises his work to release hostages

Israeli President Isaac Herzog is praising Donald Trump on Inauguration Day, calling him a “true friend” of the country and thanking him for his efforts to secure the release of hostages from Hamas. 

“On behalf of the people of Israel, I send my heartfelt congratulations to you, President Donald Trump on your inauguration as the 47th POTUS,” Herzog wrote on X. 

“You are a true friend of Israel. Thank you for your unwavering commitment to Israel’s security and to building a better future for our region. A special thank you for your commitment to bringing all our hostages home,” he continued. 

“We wish you and your administration great success in your service to the American people. Good luck!” Herzog added. 

FREED ISRAELI HOSTAGE SPEAKS OUT FOR FIRST TIME 

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Israeli President Isaac Herzog and President Trump (Antonio Masiello/Valerie Plesch/Getty Images)

The comments come a day after Hamas released to Israel three hostages it has been holding in captivity for nearly 500 days, as part of a cease-fire and hostage release agreement. 

In exchange, Israel released 90 Palestinian prisoners in the West Bank. 

“Let’s face it, the fact that President Trump had a clear message, ‘By my inauguration, I want to see hostages coming out, or else there will be hell to pay,’ made a huge impact in the Middle East, and we are hopeful that with his leadership, we’re going to see all 98 hostages coming out starting today with the three female hostages,” Ronen Neutra, whose son Omer was killed by Hamas terrorists, told Fox News on Sunday. 

ISRAEL RELEASES 90 PALESTINIAN PRISONERS AS PART OF CEASE-FIRE DEAL TO FREE HOSTAGES 

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Emily Damari released

Emily Damari, right, and her mother Mandy are seen near kibbutz Reim, southern Israel after Emily was released from captivity by Hamas militants in Gaza on Sunday, Jan. 19. (AP/Israeli Army)

Trump said last week, “This EPIC cease-fire agreement could have only happened as a result of our Historic Victory in November, as it signaled to the entire World that my Administration would seek Peace and negotiate deals to ensure the safety of all Americans, and our Allies.  

Biden and Herzog meet at White House

President Isaac Herzog shakes hands with President Biden while meeting at the White House on Nov. 12, 2024. (Alex Wong/Getty Images)

 

“I am thrilled American and Israeli hostages will be returning home to be reunited with their families and loved ones,” he had written on Truth Social. 

Fox News’ Taylor Penley contributed to this report. 

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Death toll in Gaza soars after truce as dozens of bodies found in rubble

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Death toll in Gaza soars after truce as dozens of bodies found in rubble

Palestinians have recovered dozens of bodies buried under rubble in Gaza and are searching for thousands more as the ceasefire between Israel and Hamas continues to hold for a second day.

Medical sources told Al Jazeera on Monday that the bodies of 97 Palestinians have been recovered in the destroyed city of Rafah in southern Gaza since the ceasefire took effect the previous day with the release of the first three captives held by Hamas and 90 Palestinians from Israeli jails.

Israeli attacks on Gaza killed more than 47,000 Palestinians, mostly women and children, and wounded more than 111,000, according to local health authorities.

But the Palestinian Civil Defence agency said it estimated there are 10,000 bodies under destroyed structures across the strip.

At least 2,840 bodies were melted and there are no traces of them, said Mahmoud Basal, spokesperson of the Palestinian Civil Emergency Services in Gaza.

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Meanwhile, many displaced residents returning to their neighbourhoods found them almost unrecognisable due to the devastation from more than 15 months of war.

“[The level of destruction] was a big shock, and the amount [of people] feeling shocked is countless because of what happened to their homes. It’s destruction, total destruction,” Mohamed Gomaa, who lost his brother and nephew in the war, told the Reuters news agency.

“It’s not like an earthquake or a flood, no no. What happened is a war of extermination.”

Meanwhile, more than 630 aid trucks entered the Gaza Strip on Sunday, United Nations Secretary-General Antonio Guterres told the Security Council on Monday, with at least 300 of those trucks going to the enclave’s north, where the UN said famine looms.

With a growing flow of aid into the Palestinian enclave, residents flocked into markets with some expressing happiness at the lower prices and the presence of new food items like imported chocolates.

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“The prices have gone down, the war is over and the crossing is open to more goods,” Aya Mohammad-Zaki, a displaced woman from Gaza City sheltering in Deir el-Balah in central Gaza, told Reuters.

Attention is also starting to shift to the rebuilding of the coastal enclave, which the Israeli military demolished in retaliation for Hamas-led attacks on Israel on October 7, 2023.

Those assaults killed 1,139 people with about 250 taken captive into Gaza, according to Israeli tallies.

A UN damage assessment released this month showed that clearing more than 50 million tonnes of rubble left in the aftermath of Israel’s bombardment could take 21 years and cost up to $1.2bn.

A UN report from last year said rebuilding Gaza’s shattered homes could take at least until 2040 but could drag on for many decades. The debris is believed to be contaminated with asbestos because some refugee camps struck during the war are known to have been built with the material.

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A UN Development Programme official said on Sunday that development in Gaza has been set back by 69 years as a result of the conflict.

Isolated incidents as ceasefire largely holds

Residents and officials in Gaza said on Monday that, for the most part, the ceasefire appeared to be holding – although there were incidents of violence.

Two Palestinian civilians, one of them a teenage boy, were killed by Israeli snipers in Rafah, according to the Palestinian news agency Wafa.

Eight Palestinians, including children, were also injured on Monday as a result of Israeli gunfire in Rafah.

The Israeli military said it fired warning shots towards people who approached soldiers deployed according to the ceasefire agreement.

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Meanwhile, Mohamad Elmasry, a media studies professor at the Doha Institute for Graduate Studies, said Israeli media are now increasingly focusing on Israeli Prime Minister Benjamin Netanyahu’s handling of the war on Gaza.

“They’re calling this a spectacular failure,” he told Al Jazeera, stressing that Netanyahu failed to fulfil his promise to eliminate Hamas.

“And now he has to watch on all the TV screens Hamas fighters dressed in their fatigues escorting Israeli captives to their vehicles,” the academic added.

“He’s watching as Hamas will continue to govern Gaza and oversee the security situation, the humanitarian aid situation and all elements of this ceasefire. Hamas has not been eliminated, and this is very embarrassing for Netanyahu.”

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