The United States-based National Basketball Association (NBA) is set to give private equity firms and Europe-based clubs access to financial projections for the proposed European league next week as it continues its plans to expand internationally.
In the news of the Financial Times, based on sources close to the subject, It is claimed that Blackstone, CVC Capital Partners, RedBird Partners and General Atlantic are among the investment groups that will be given access to financial projections.
BlackRock, BC Partners and Oaktree Capital are also being given access to the documents as investors evaluate whether to support teams that will join the new league.
NBA commissioner Adam Silver reminded that sovereign wealth funds and private equity companies already own and operate teams in Europe, and said that this approach could be adopted in the newly established league.
“We are open to different types of investors that are not currently allowed as primary investors in the NBA and the United States. With the opportunity to build a league from scratch, we are approaching it from a fresh perspective and being realistic,” said Silver, adding, “We understand that there are different norms in different parts of the world in terms of sports team ownership.”
Fenerbahçe was also contacted
The NBA has narrowed the list of possible financial backers for the European league to a few dozen names after initially receiving more than 300 expressions of interest, according to people familiar with the matter. Non-binding team/franchise offers must be submitted by the end of March; The NBA aims to start the organization in late 2027.
The team franchises are expected to be valued at between $500 million and $1 billion, according to people briefed on the talks.
According to the Financial Times, it is also planned to present details about the NBA Europe project to the executives of several leading European football clubs, including Real Madrid, FC Barcelona, Bayern Munich, Fenerbahce and Athens-based Panathinaikos; These include the project’s management structure and revenue estimates.
The NBA’s plan has the potential to radically change the structure of European basketball and poses a serious threat to the EuroLeague, which has long been the center of regional competition. Although Barcelona recently renewed its license to play in the EuroLeague, the club’s statement emphasized the goal of “always competing in the best organizations available.”
Existing European basketball teams have also been shortlisted as possible participants for the new league, including Lyon-based ASVEL (owned by French NBA legend Tony Parker) and Olimpia Milano.
The NBA is trying to drum up interest in its proposed European expansion by holding games in London and Berlin in recent days and holding talks with potential investors, broadcasters and sponsors.
Galatasaray Club Board Member Responsible for Basketball, Can Natan, previously said that they were determined to take part in the NBA Europe project; “We have been in high-level contacts regarding the NBA Europe project for a long time. We will start official negotiations soon. We are determined to take part in this project. Galatasaray, as the club that brought basketball to Türkiye, will add value to NBA Europe with its potential and the power of its fans,” he said.
Source: Newspaper Oxygen
