Lithuanian businessman plans to buy an NBA team within 5 years

Lithuanian businessman Gediminas Ziemelis is not dropping plans to become a majority shareholder of an NBA club. In a recent interview Ziemelis revealed more details about how and when he expects buy a team in the NBA.

He also plans to have Lithuanian basketball legend Arvydas Sabonis as the president of the club. Gediminas Ziedelis said, per

“For sure I have [such plans] and am working towards it. An important aspect here is not even money but review. It needs to be passed, you have to be a person related with basketball. You have to be sponsor of basketball and to be interested in this area. NBA does not want for a stupid shareholder to be let it, who does not know what players to acquire and how to set the club’s direction.

“We still plan to fly basketball club Zalgiris Kaunas and Olimpia Milan. Who is our new client.

“As I said, the term has not changed – 5-year term. First of all, listing of our company’s shares on the exchange must take place and then we will have capital.

“We even discussed the NBA club with Arvydas Sabonis, what should be done.
“We agreed that he will be the club’s president.”