Sulayem, who is the executive chairman of the Dubai Multi Commodities Center, has launched a "STAY" advertising campaign to urge Young to re-sign with the Lakers.
Launched on June 21, the two-week campaign features advertising on billboards, bus stops and trucks near Staples Center.
"These campaigns are not just about creating noise. They are all about supporting legends that deserve recognition for their continuous drive that inspires and exceeds expectations of millions of fans and supporters every day," Bin Sulayem said in a statement. "In my view, Nick Young epitomizes exactly that and it would be amazing to see him in action at LA Lakers next season as well."
The Lakers project to have significant cap room this summer but may be hesitant to give Young a sizable multiyear deal, as the franchise looks to preserve financial flexibility to acquire top-tier players.
After earning $5.6 million to play for the Philadelphia 76ers through the 2012-13 season, Young took a more modest $1.1 million with the Lakers.
He played 64 games in his first season with the team, averaging 17.9 points a game, but opted out of the second year of his contract, which would have paid him $1.2 million.
Young has said he hopes to land a larger, long-term deal in free agency, preferably with the Lakers.