The NBA and EuroLeague have held fresh talks aimed at resolving their stand-off over the US basketball giant's plans to launch a European league next year. The meeting, held in Switzerland on Tuesday, is seen as a step towards a peace deal that could pave the way for cooperation over NBA Europe, though no agreement has been reached yet.
Softening Opposition
EuroLeague, which organizes Europe's premier basketball competition, is not currently part of the NBA's plans, which threaten to poach top teams like Real Madrid and Barcelona. However, EuroLeague chiefs have softened their initial opposition to the project, partly due to a recent change in leadership.
Joint Statement
In a joint statement, representatives of Euroleague Basketball, FIBA, and the NBA said: "Constructive discussions were held on the future of European basketball and on potential opportunities for collaboration. All three parties agreed on continuing the conversation in the upcoming weeks."
Investment Interest
The talks come after the deadline for potential investors to submit initial, non-binding bids for permanent franchises in NBA Europe. London attracted the most interest, with several bids exceeding $1 billion and others in the $500 million to $1 billion range, according to insiders.
NBA Commissioner's View
NBA Commissioner Adam Silver has expressed encouragement at EuroLeague's willingness to find a mutually beneficial solution. "For the betterment of European basketball, the best outcome would be if we came together with the EuroLeague and developed a systematic approach to growing the game throughout Europe," Silver said. He emphasized complementing country leagues and working with FIBA.
Valuation Boost
EuroLeague's negotiating position received a boost last month when merchant bank JB Capital valued the league and its 20 clubs—including teams in Paris, Munich, Athens, Istanbul, and Dubai—at €3.2 billion.
