The NBA confirmed Monday that it would begin pursuing teams and ownership groups for a new professional European men’s league it hopes to launch in partnership with FIBA.
The prospective league would feature permanent teams and additional spots up for grabs via an annual qualification pathway. Clubs in FIBA-affiliated domestic leagues around Europe could qualify for the new league through the Basketball Champions League or an end-of-year tournament.
The league calendar would avoid conflicting with domestic and international schedules to permit players to fulfill all their commitments over the course of a season, the NBA noted in a news release.
Valuations for the permanent franchises could exceed $1 billion, according to CNBC, which reported that bankers from JPMorgan and the Raine Group have met with at least 70 potential investors.
“Our conversations with various stakeholders in Europe have reinforced our belief that an enormous opportunity exists around the creation of a new league on the continent,” commissioner Adam Silver said in the NBA’s release.
“Together with FIBA, we look forward to engaging prospective clubs and ownership groups that share our vision for the game’s potential in Europe.”
The NBA and FIBA publicized in March their plan to jointly explore creating the league. Monday’s announcement included a promise to fund the development of European basketball at the pro, academy and grassroots levels.
“Advancing further this joint NBA-FIBA project is great news for the European basketball community,” FIBA secretary general Andreas Zagklis said.
“The format of the league respects European sport model principles by offering any ambitious club in the continent a fair pathway to the top. The project is conceived in a way that will improve the sustainability of the entire European basketball ecosystem, including players, clubs, leagues and national federations, by generating a knock-on effect that will strongly benefit basketball fans throughout Europe.”
The NBA said more updates are expected to follow in the coming months. The league intends to receive nonbinding ownership bids in January and hold a vote to green-light the league at the board of governors meeting in March, according to CNBC.
