FIBA and NBA team up, seeing ‘enormous possibilities’ in the European league
The NBA announced on Monday that it would start looking for clubs and ownership groups for a new professional European men’s league that it intends to start in collaboration with FIBA.
Permanent teams would play in the proposed league, with more seats available through an annual qualification process. Teams from domestic leagues in Europe that are associated with the FIBA could earn a spot in the new league by participating in an end-of-year tournament or the Basketball Champions League.
In a news release, the NBA stated that the league calendar will not clash with domestic and foreign schedules, allowing players to complete all of their obligations throughout a season.
Bankers from JPMorgan and the Raine Group have spoken with at least 70 possible investors, according to CNBC, which also stated that valuations for the permanent franchises might surpass $1 billion.
In the NBA press release, commissioner Adam Silver stated, “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.”
“Together with FIBA, we look forward to engaging prospective clubs and ownership groups that share our vision for the game’s potential in Europe.”
In March, the NBA and FIBA announced their intention to work together to investigate potential league formation. A pledge to support the growth of European basketball at the professional, academy, and grassroots levels was part of the announcement made on Monday.
“It’s fantastic news for the European basketball community that this joint NBA-FIBA project is moving forward,” stated FIBA secretary general Andreas Zagklis.
By giving every aspirational club on the continent an equitable route to the top, the league’s structure adheres to the principles of the European sport model. The project is designed to create a positive ripple effect that will greatly benefit basketball fans across Europe, thereby improving the sustainability of the entire European basketball ecosystem, including players, teams, leagues, and national federations.”
The NBA stated that additional information will likely be released in the upcoming months. The league plans to hold a vote to approve the league at the board of governors meeting in March after receiving nonbinding ownership proposals in January, according to CNBC.
