The National Basketball Association (NBA) has taken a significant step towards establishing a major new professional men's league in Europe, in a landmark partnership with the International Basketball Federation (Fiba).
Pursuing Billion-Dollar Franchises
On Monday, the NBA confirmed it is actively seeking teams and ownership groups for the ambitious project. According to a report from CNBC, valuations for the league's permanent franchises could surpass $1bn. Bankers from financial giants JPMorgan and the Raine Group have already held discussions with more than 70 potential investors to gauge interest.
The proposed structure will include a core of permanent clubs, supplemented by additional teams that qualify each season through a competitive pathway. This format is designed to integrate with the existing European basketball landscape.
A Format Respecting the European Model
The league aims to avoid direct clashes with domestic and international competitions. Its calendar will be arranged to allow players to participate in their national leagues and represent their countries, a key concern for clubs and federations.
Clubs from Fiba-affiliated leagues across the continent could earn a place in the new competition via two routes: through their performance in the existing Basketball Champions League or via a special end-of-year tournament.
"Together with Fiba, we look forward to engaging prospective clubs and ownership groups that share our vision for the game’s potential in Europe," said NBA Commissioner Adam Silver in an official release.
Funding and Future Steps
The joint venture also pledges to fund the development of basketball at professional, academy, and grassroots levels throughout Europe. Fiba Secretary General Andreas Zagklis stated the project is "conceived in a way that will improve the sustainability of the entire European basketball ecosystem."
The next stages are already mapped out. The NBA intends to receive non-binding ownership bids in January 2024, followed by a crucial vote to formally approve the league at the NBA Board of Governors meeting in March. Further updates are promised in the coming months.
This move follows a preseason game between the Dallas Mavericks and Real Madrid Baloncesto at Madrid's Wizink Centre in October 2023, highlighting the NBA's ongoing engagement with the European market.
