NBA Confirmed on Monday that it will begin searching for teams and ownership groups for a new professional European men's league that it hopes to launch in partnership with Fiba.
The future league will feature permanent teams and additional spots that can be earned through annual qualifying. Clubs from the national leagues of Europe that are part of Fiba can apply for participation in the new league through Basketball Champions League or year-end tournament.
The league's calendar will not conflict with domestic and international schedules, allowing players to fulfill all of their commitments during the season, the NBA said in a press release.
Permanent franchises could be worth more than $1 billion, according to CNBC, and bankers from JPMorgan and Raine Group have met with at least 70 potential investors.
“Our conversations with various stakeholders in Europe have reinforced our belief that there is a tremendous opportunity to create a new league on the continent,” NBA commissioner Adam Silver said in an NBA press release.
“Together with Fiba, we look forward to attracting promising clubs and ownership groups who share our vision of the game’s potential in Europe.”
The NBA and Fiba unveiled their plan in March to jointly explore the possibility of forming a league. Monday's announcement included a pledge to fund the development of European basketball at professional, academic and grassroots levels.
“The further development of this joint project between the NBA and Fiba is great news for the European basketball community,” said Fiba General Secretary Andreas Zagklis.
“The league format respects the principles of the European sporting model, offering any ambitious club on the continent a fair path to the top. The project is designed to improve the sustainability of the entire European basketball ecosystem, including players, clubs, leagues and national federations, creating a domino effect that will greatly benefit basketball fans across Europe.”
The NBA said more updates are expected in the coming months. According to CNBC, the league intends to receive non-binding ownership proposals in January and hold a vote on whether to greenlight the league at a board of governors meeting in March.
