Formula E Majority Stakeholder Makes Play for NBA Europe's London Team
Liberty Global, the principal owner of the all-electric motor racing series Formula E, has formally submitted a bid to purchase the London franchise in the forthcoming NBA Europe project, according to multiple industry reports. This development follows the recent closure of the non-binding bid period, during which the London team emerged as the most coveted asset among prospective investors.
High-Stakes Bidding and Strategic Partnerships
Sources within the NBA have indicated that the bidding process attracted multiple offers valuing franchises at approximately $1 billion. Liberty Global is reportedly collaborating on its bid with either MSP Sports Capital, a prominent investment vehicle, or its founder Jahm Najafi. Najafi brings significant basketball credentials, having previously served as vice-chairman of the Phoenix Suns.
MSP Sports Capital recently executed a highly profitable exit from McLaren's Formula 1 team, which was valued at around £4 billion, marking one of the most substantial returns in sports investment history. The firm had also engaged in preliminary discussions with former Red Bull team principal Christian Horner regarding a potential minority stake acquisition in the French racing team Alpine.
NBA Europe's Continental Expansion Plan
The NBA Europe league is scheduled to launch in 2027, with plans to establish 10 to 12 franchises across major European basketball markets. Cities such as Paris, Manchester, Milan, Barcelona, and Madrid have all expressed strong interest in securing teams, with several existing EuroLeague clubs exploring partnership opportunities.
NBA deputy commissioner and chief operating officer Mark Tatum commented on the robust investor response, stating, "We have received significant interest from a range of prospective teams and investors for permanent franchise spots in a new league in Europe backed by the NBA and FIBA. The level of engagement and the scale of the bids reflect the marketplace's belief in our proposed model and the enormous, untapped potential for European basketball."
Tatum further noted that the league will now proceed to a detailed review phase, shortlisting partners who demonstrate alignment with the NBA's vision for expanding the sport's footprint across the continent. The league structure will include provisions for teams outside the founding members to qualify for participation in future seasons.
Liberty Global's Diverse Media Portfolio
Beyond its controlling interest in Formula E, Liberty Global maintains a substantial 50 percent stake in Virgin Media O2 and holds a minority share in British broadcaster ITV, among other investments. This bid for the NBA Europe London franchise represents a strategic diversification into professional basketball, leveraging the company's extensive experience in sports media and entertainment.
The move underscores the growing convergence between motorsport and traditional team sports ownership, as investors seek to capitalize on the global appeal of premium sports franchises. With the London market identified as a prime location for the new league, the competition for ownership rights is expected to intensify as the NBA advances toward finalizing its European expansion.
