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Wall Street and Silicon Valley veterans are lining up to make big bets on the NBA

Jonathan MarinoOct 25, 2015, 05:31 IST

The 2005 NBA Champion San Antonio Spurs crowd around their trophyREUTERS/Reuters Photographer

Veterans from the worlds of finance and technology are using their professional skills to take on a totally new kind of competitive arena: the National Basketball Association.

The season is expected to kick off next week, and the list of Wall Street and Silicon Valley billionaires chasing a return on investment on the hardwood is getting longer.

Apollo Global Management co-founder Tony Ressler earlier this year led a group of investors that includes NBA great Grant Hill to buy the Atlanta Hawks in a deal valued at more than $800 million.

Ressler is a seasoned Wall Street pro, and also put money into Major League Baseball's Milwaukee Brewers 10 years ago.