EuroLeague clubs split over continuing NBA Europe negotiations

The rejection of the NBA’s initial proposal on Tuesday, Oct. 6, at Cernobbio, Italy, masks a deep internal divide among the 13 shareholder clubs of Euroleague Commercial Assets (ECA), according to reports from bebasket.fr. While all thirteen owners agreed that the current American proposal was unacceptable, they remain sharply split on whether to slam the door on negotiations or push for improved economic and governance terms.

Clubs Split on Continued Negotiations in Cernobbio

Tuesday’s vote in Cernobbio created a surface impression of a united front against the initial NBA Europe blueprint. However, bebasket.fr reported that a significant gap separates clubs that merely rejected the first draft from those opposed to any partnership altogether.

Real Madrid, the Panathinaikos, LDLC ASVEL, and Fenerbahçe favor keeping channels open. Real Madrid officials requested a roughly 30-day window to allow the NBA time to return with a revised offer, treating Cernobbio as a failed opening bid rather than the end of the road. Conversely, Olympiacos, Olimpia Milan, Baskonia, and FC Barcelona adopted a hardline stance. Barcelona reportedly dismissed the financial package as grossly insufficient, while some discussions even featured the term “colonialist” to describe the proposed American financial and governance structure.

Giannakopoulos Targets Clubs Resisting NBA Initiative

The boardroom friction quickly spilled into public view when Panathinaikos owner Dimitris Giannakopoulos took to Instagram on Wednesday, Oct. 7, to target opponents of the NBA initiative.

Giannakopoulos asserted that clubs resisting the NBA's overtures either seek to protect the status quo of the EuroLeague or fear being left out of a reshaped continental structure. His public statements show that elite clubs are willing to contemplate systemic overhauls if the financial compensation proves high enough.

EuroLeague Expansion Plans Hang in the Balance

The NBA’s initial pitch hinged on preserving the core structure of the 13 incumbent shareholder clubs while freezing the EuroLeague’s independent expansion plans. With decisions on long-term licenses expected within the month, the governing body finds itself caught between preparing its own standalone future and avoiding a definitive vote that would permanently sever ties with North American investors.

Valuation, Control, and Governance Disputes

Disagreements extend far beyond raw financial figures. Shareholders who have invested two decades into building the EuroLeague brand demand strong control and fair asset valuation.

Several owners argued that the NBA’s opening bid undervalued existing investments made by historic European clubs. Shared governance models proposed by the American league met stiff resistance from traditionalists who refuse to cede operational authority.

Next Steps for the ECA and NBA Partners

With no consensus inside the ECA, the coming month stands as a critical checkpoint. The EuroLeague intends to advance its franchise licensing model and evaluate team expansion while a faction of owners holds out hope for a significantly richer NBA proposal.

Should the NBA return with vastly improved terms, the balance of power within the ECA could shift. If not, clubs eager for reform must decide whether to align with conservative factions or pursue separate integration into a future NBA Europe framework.