The NBA and EuroLeague ramped up discussions Tuesday about a potential NBA Europe collaboration, with sources saying the NBA reiterated its blueprint of how EuroLeague franchises can join the prospective start-up.
During a joint meeting between FIBA, the NBA and EuroLeague in Mies, Switzerland, sources said the NBA – represented by its manager director of Europe and Middle East George Aivazoglou – outlined the two ways EuroLeague clubs that haven’t already submitted bids can opt in. First, Aivazoglou told them it is not too late to bid to become a permanent franchise at launch, despite an original March 31 submission deadline. And second, EuroLeague teams can still be part of NBA Europe by qualifying through merit-based competition.
Aivazoglou, according to sources, also updated the EuroLeague on continent-wide interest in the project, describing how more than 120 prospective investors — including existing basketball and football clubs, peripheral investment groups and individual benefactors — have reached out about NBA Europe.
Overall, the NBA and FIBA have received more than 20 bids from those existing basketball and football clubs, with several coming from undisclosed EuroLeague teams. Those sources said the NBA expects bids to be in the $500M to $1B range, and early indications show that bids in that vicinity have arrived.
Sources said EuroLeague was represented in Switzerland by CEO Chus Bueno and President Dejan Bodiroga, while FIBA’s representatives included Secretary General Andreas Zagklis, among others. This was the third meeting between the sides in the past year.
In a joint statement following the meeting, the parties 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.”
