Maverick Carter, LeBron James‘ business manager, has been enlisted as an adviser by a group of investors seeking to raise $5 billion to form an international basketball league that would serve as a rival to the NBA, sources told ESPN, confirming a story first reported Thursday by Bloomberg.

The group — which includes multiple private equity funds — is looking to form a league consisting of six men’s teams and six women’s teams, playing games around the world, sources told ESPN.

Though Carter, who has served as a producer on multiple of James’ TV and movie projects, is closely tied to the Los Angeles Lakers star, sources told ESPN that James is not involved in the efforts with this new league.

James, whose current Lakers contract includes a player option for the 2025-26 season, has expressed interest in becoming an NBA owner once his playing career comes to an end.

Bloomberg reported that the investment group might try to tap private equity and sovereign wealth funds to raise the $5 billion it is seeking. Currently private equity funds are limited to a 20% stake in NBA teams, and are not allowed to serve in governing roles.

The NBA has not faced a significant rival 5-on-5 league since the 1970s, when the short-lived American Basketball Association went under, and the NBA absorbed four of its teams — the Pacers, Nets, Nuggets and Spurs. The WNBA was beaten to market by the rival American Basketball League in the 1990s, though that league folded after two and a half seasons.

This season, a new 3-on-3 league, Unrivaled, is starting up and has filled its rosters with many of the WNBA’s biggest stars, though rookie sensation Caitlin Clark chose not to participate.