European Basketball League: A Game-Changing Proposal by NBA and FIBA

The NBA and FIBA have drawn significant interest from potential teams and investors for a new European league. With over 120 interested parties, bids range from $500 million to $1 billion. Target cities include major European hubs, and the league plans to announce its launch and participating teams gradually.

On Wednesday, NBA Deputy Commissioner Mark Tatum announced substantial interest from potential teams and investors for a new European basketball league, a partnership with FIBA. "The marketplace's belief in our model and Europe's vast potential is evident in the scale of the bids," said Tatum.

The NBA has received bids ranging from $500 million to over $1 billion, with over 120 interested parties, including existing teams and high-net-worth individuals. The bids come from a diverse group representing 12 target European cities, among them London, Paris, and Rome.

The NBA and FIBA plan to launch this league on a phased basis, prioritizing bids aligning with their strategic vision. Their active engagement with EuroLeague signals due diligence, with successful bids gaining a permanent slot in the competition.

(With inputs from agencies.)