The Harlem Globetrotters are being sold and could fetch anywhere between $50 million and $100 million, reports Reuters. The team has been owned by a Los Angeles-based private equity firm, Shamrock Capital Advisors, since 2005. The process is in the second round according to sources.
The Globetrotters were founded in 1926, initially as the family investment company of Roy Disney. They are known for their trick shots and comedy routines and have played more than 25,000 games around the world. Former players include Wilt Chamberlain and Meadowlark Lemon, and the team was also featured on a Saturday morning cartoon show in the 1970s. The Globetrotters recently gained additional attention after taking a trip to North Korea alongside Dennis Rodman in March.