MILAN – The competition to secure a franchise in the planned NBA Europe league is intensifying, with Oaktree, the owner of Inter Milan, reportedly overtaking RedBird Capital, the firm behind AC Milan, in the bidding process. The rivalry between the two Serie A giants is now extending to the basketball court, as both clubs vie to represent Milan in the league slated to launch in 2027 or 2028 following the Los Angeles Olympics.
According to reports from Il Corriere della Sera, Oaktree has made significant strides in its pursuit of a team, leveraging what sources describe as “unlimited financial resources.” This development marks a shift in the dynamic, as RedBird, led by Gerry Cardinale, had previously been at the forefront of discussions with the NBA and Armani CEO Leo Dell’Orco regarding potential partnerships.
NBA Europe: A Colossal Operation
The NBA’s ambition to establish a European league is a major undertaking, and the selection of host cities and franchises is a critical step. Milan is considered a prime candidate, given its status as a major European city and its existing basketball infrastructure. The race between Inter and Milan represents a high-stakes battle for a coveted spot in the league.
Oaktree’s approach has reportedly impressed both Dell’Orco and NBA Europe officials. The firm, led by Howard Marks, has thoroughly examined the NBA’s proposed business model and is exploring viable options in collaboration with Olimpia Milano, the existing Italian basketball powerhouse. Talks with J.P. Morgan, the bank overseeing the NBA’s financial entry into Europe, have too been productive, signaling a strong commitment from all parties involved.
RedBird’s Early Lead Challenged
While RedBird had initially taken the lead in discussions with the NBA, Oaktree’s financial strength and proactive engagement appear to have altered the landscape. Cardinale’s firm has been actively pursuing the project, and its existing relationship with the NBA board is seen as a significant asset. RedBird also possesses potential land for the construction of a new arena, a key requirement for potential franchises.
Yet, Oaktree’s willingness to invest substantial capital has seemingly given them an edge. The NBA is handling this “colossal operation” with great care, and financial backing is a crucial factor in the decision-making process. The reported positive reception to Oaktree’s approach and demeanor further strengthens their position.
What’s Next for Milan’s NBA Bid?
Despite Oaktree’s apparent progress, the outcome remains uncertain. The deadline for submitting formal bids is approaching, and both firms are working diligently to finalize their proposals. The entry fee required to secure a franchise will undoubtedly play a significant role in determining the winner.
Oaktree is currently engaged in further talks, extending discussions beyond Olimpia Milano, indicating a broader strategy to secure the best possible position. The next few days are expected to be crucial as both Inter and Milan finalize their plans and present their cases to the NBA.
For fans of Italian basketball, the prospect of a Milan-based NBA franchise is an exciting one. It would not only elevate the profile of the sport in Italy but also provide a platform for local talent to compete against the best players in the world. The competition between Inter and Milan adds another layer of intrigue to the already compelling narrative.
The situation is fluid, and a final resolution is still pending. However, the latest reports suggest that Oaktree has emerged as the frontrunner in the race to bring NBA basketball to Milan. The coming weeks will reveal whether they can capitalize on their momentum and secure a franchise in the highly anticipated NBA Europe league.
The NBA Europe project is gaining momentum, and the next few months promise to be pivotal. With the deadline for applications looming, both Inter and Milan are racing against time to present their vision for the future of basketball in Europe.
Next Steps: The NBA is expected to announce a shortlist of potential franchise locations by the end of March. Further updates will be provided as the process unfolds.
