Key facts
- EuroLeague CEO Chus Bueno stated the NBA's European plans are 'following the money' and could harm basketball.
- Bueno has secured 10-year franchise deals with all 13 EuroLeague member clubs.
- The EuroLeague plans to raise 3 billion euros through expansion franchise sales.
- Investor bids for EuroLeague franchises total 1.2 billion euros.
- NBA Europe franchise bids, particularly for London, are reportedly over $1 billion.
EuroLeague CEO Chus Bueno has asserted the organization's strength and commitment to remaining a dominant force in European basketball, directly challenging the NBA's plans for a rival European league. Amidst what was described as an existential threat, Bueno has secured 10-year franchise deals with all 13 member clubs, including major teams like Real Madrid and Barcelona, to ensure loyalty and a unified vision.
Bueno detailed plans to raise 3 billion euros through the sale of expansion franchises, aiming to grow the league from 20 to 24 teams by 2027. He reported strong investor interest, with over 20 bids totaling 1.2 billion euros. New franchises are expected to be priced between 50 million and 100 million euros.
In contrast, the NBA's European venture is perceived by Bueno as primarily commercial, with bids for its planned franchises, including London, reportedly exceeding $1 billion. He suggested that institutional investors might impose significant conditions on NBA Europe deals due to perceived risk and uncertainty. Bueno also dismissed the NBA's proposed 10 million euro exit fee for EuroLeague clubs, warning that such departures would cause significant damage to the sport.
NBA Europe managing director George Aivazoglou and Deputy Commissioner Mark Tatum have disputed the notion that the venture is solely money-driven, stating it aims to accelerate basketball growth and serve underserved markets. However, EuroLeague CEO Paulius Motiejunas expressed concern that the NBA's approach could harm European basketball if collaboration fails, noting that many European teams are currently operating at a financial deficit.