The Qatar sovereign wealth fund is reportedly buying a five percent stake in Monumental Sports & Entertainment.
The country of Qatar is reportedly making its way into the U.S. professional sports, and it's starting with the Washington Capitals and other D.C. teams.
Per Sportico and the Associated Press, the Qatar Investment Authority is buying a five percent passive minority stake in Monumental Sports & Entertainment, which owns the NHL's Capitals, NBA's Washington Wizards and WNBA's Washington Mystics.
The deal is said to be for $4.05 billion, but it has not been publicly announced at this time.
This is the first time that the government of Qatar is investing in U.S. pro sports, as well as the first time any sovereign wealth fund is buying into an American team.
It is another big step into the sports world for Qatar, which hosted the FIFA World Cup last season.