Wizards' John Wall Buys Ownership Stake in NBL's South East Melbourne Phoenix

Washington Wizards guard John Wall has reportedly purchased an ownership stake in the South East Melbourne Phoenix, a basketball team in Australia's NBL, according to Marc Stein of the New York Times.

The ownership group is led by Romie Chaudhari but features other current and former NBA players, including Zach Randolph, Al Harrington, Josh Childress and Melbourne's Dante Exum.

The Phoenix were an expansion team in the 2019-20 season and finished eighth of nine teams.

Wall's purchase continues a trend of NBA players investing in the NBL, as Stein noted.

Indiana Pacers star Victor Oladipo joined the ownership group of the New Zealand Breakers last week alongside former NBA players Matt Walsh and Shawn Marion. Kevin Martin owns part of the Brisbane Bullets.

Even LaMelo Ball was in serious discussions to buy his own team, the Illawarra Hawks, before the team was sold to former Philadelphia 76ers general manager Bryan Colangelo.

Wall missed the entire 2019-20 season with an Achilles injury but is set to make $84.7 million over the next two seasons and has a $46.9 million player option for 2022-23.