Palo Alto Networks CEO Nikesh Arora is in talks to own a London team as part of the NBA Europe project, as he has already assembled a compelling group of investors prepared to offer more than $1 billion (£ 740 million) to win a franchise bid.
Indian-American technology billionaire Nikesh Arora is exploring a deal to possibly acquire the upcoming London team in the NBA Europe project, per Amelie Claydon and Leon Imber of The Athletic.
Arora has assembled a powerful consortium of investors prepared to offer a massive $1 billion (£740 million) for the franchise.
London is considered one of the highest-prized markets of the league’s planned expansion in Europe.
Nikesh Arora pursuing NBA Europe team in London
Nikesh Arora is the current CEO of Palo Alto Networks, a cybersecurity firm based in New York.
Last year, he notably led Cricket Investor Holdings Limited, also known as “Tech Titans,” in acquiring a 49% stake in the London Spirit cricket franchise for £145 million.
Previously, NBA Commissioner Adam Silver announced that he is pleased with the progress of the league’s expansion plans in Europe. The Association’s leadership is poised to review bids from several groups interested in owning a franchise.
The official target date for the launch of NBA Europe is October 2027, tipping off the inaugural 2027-28 season.
The proposed new league will feature 16 total teams, mainly composed of 12 permanent franchises in major European hubs and 4 annual qualifying spots earned through domestic play.
Like what we are doing? You can express your gratitude here.
