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NBA to review European league proposal / Photo: Ethan Miller - GETTY IMAGES NORTH AMERICA/AFP
NYSE - LSE
NBA to review European league proposal
The NBA is to review a proposal to create a European basketball league, a spokesperson confirmed on Tuesday, after a report detailed a new competition that could feature up to 10 teams.
Sports business news website Sportico said league owners will consider a plan that includes eight to 10 franchises, including up to four teams who already play in the EuroLeague -- Europe's top club competition.
The proposed league would also feature new franchises in cities such as London and Paris, which could be worth as much as $500 million, Sportico reported, citing a source with direct knowledge of the plans.
An NBA spokesperson told AFP the league would consider the issue of a European league this week, noting that any new competition would be launched "in partnership" with FIBA, world basketball's governing body.
"At this week's NBA Board of Governors meeting, the league will report on its exploration of a new men's basketball league in Europe, in partnership with FIBA," the spokesperson said.
Rumours of the NBA taking a bigger role in European basketball have swirled for several months, with deputy commissioner Mark Tatum saying last October there was an "untapped opportunity" to grow the sport in the region.
"There's no doubt that I think there is an opportunity for the game of basketball to continue to grow in Europe," Tatum said on a conference call.
"And, you know, what we're focused on is really working with FIBA and our partners in Europe to tap into this untapped opportunity to further grow the game of basketball there."
Tatum noted that despite basketball's popularity in Europe, the sport had "less than a one percent share of the commercial market."
"So we just think there's an opportunity to have a better model for European basketball," Tatum said.
Sportico reported that while no formal vote on the European league proposal had been scheduled during this week's meetings in New York, team owners could nevertheless vote on the plan "at any time."
Sportico reported that under the proposal being considered, the NBA would sell permanent franchise slots to outside investors, such as sovereign wealth funds, private capital, wealthy individuals or existing European basketball clubs.
(A.Thompson--TAG)
