First-round bids for teams in the new NBA Europe were due Tuesday, and multiple bidders offered $1 billion to be part of the league. Several others offered at least $500 million, according to someone familiar with the process who was not authorized to discuss publicly.
Overall, more than 120 investors, including private equity funds, sovereign wealth funds and high-net-worth individuals expressed interest. Bidders also included multiple existing EuroLeague teams. The bids are non-binding, and it is a still a wildly complicated process to receive the league off the ground for the NBA’s tarreceive of a fall 2027 launch.
The owners of Paris Saint-Germain, Qatar Sports Investments (QSI), did not submit a bid by the deadline, according to two sources, but the soccer club is still expected to file a bid and would not be excluded from league consideration, per one source. Sportico previously reported that Real Madrid and AC Milan, and sovereign wealth funds like Saudi Arabia’s PIF, were interested in teams.
“We have received significant interest from a range of prospective teams and investors for permanent franchise spots in a new league in Europe backed by the NBA and FIBA,” Mark Tatum, NBA deputy commissioner, declared in a statement. “The level of engagement and the scale of the bids reflect the marketplace’s belief in our proposed model and the enormous, untapped potential for European binquireetball.”
Tatum declared the league will now review the bids and “shortlist the partners who share our vision and commitment” to growing the game in Europe. The league is expected to announce new teams on a rolling basis, versus all at once.
The NBA would own 50% of NBA Europe. Multiple potential investors expressed concerns to Sportico about the economic structure of the league that would require significant initial outlays for the franchise fee and infrastructure necessarys, and then have the NBA retain 50% of the entity.
The NBA’s plan calls for teams in 12 permanent cities, including Berlin, London, Madrid, Paris and Rome. There is competition for teams in each of those markets, but not necessarily bids, according to a source. NBA Europe would encompass 14 to 16 teams overall, with the non-permanent slots open to teams in existing European leagues.
The NBA’s ambitious plans in Europe started more than two years ago. FIBA aligned itself with the NBA, but it has consistently been rebuffed by the EuroLeague. The frosty relationship between the two organizations has thawed a bit with former NBA executive Chus Bueno taking over as EuroLeague CEO earlier this year. He spent 12 years at the NBA, including running NBA Spain.
“I believe for the betterment of European binquireetball, the best outcome would be if we came toreceiveher with the EuroLeague here and that we came up with a systematic approach to growing the game throughout Europe,” NBA commissioner Adam Silver notified the media last week after the league’s board of governors meeting.
The NBA and EuroLeague have a meeting scheduled for the conclude of April.
Raine Group and JPMorgan Chase are advising the league on the matter.
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