The World`s Most Famous barnstorming exhibition basketball team is for sale. According to Reuters, and MSNBC the team famous for its trick shots, comedy routines, up tempo style, fun-loving shenanigans, and decades long winning streak (22,000 games) over their many opponents, but mainly the Washington Generals, is on the market.
The Globetrotters were founded in 1926 and have been barnstorming basketball courts around the world ever since. They advertise themselves as “Amazing Basketball Fun and Family Entertainment” and few who have seen them play would argue with that assessment. They really do bring family friendly entertainment mixed with great athletic prowess that they bring to every court they play on. The Globetrotter’s blue jerseys, white shorts with red stripes, and red white and blue basketball are iconic parts of American Sports/Pop Culture.
Legends in team history include Wilt Chamberlain, who went on to become one of the best NBA Players of all-time; Meadowlark Lemon, a long time Globetrotter known as the “Clown Prince of Basketball”; and Marques Haynes, perhaps the greatest dribbler of all time. They are also known for the team’s theme song, “Sweet Georgia Brown.”
Recently the club made headlines by going on a tour of North Korea with Dennis Rodman.
The Globetrotters have been owned by Shamrock Capital Advisors, a Los Angeles based private equity firm since 2005. Sources say that they are being shopped by financial heavy hitter Piper Jaffray.
The asking price is expected to be in the neighbourhood of $50 million to $100 million.
If thats too rich for your blood, there is always the Washington Generals.
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