NBA and EuroLeague hold ‘constructive’ talks over NBA Europe cooperation
The NBA and EuroLeague have held fresh talks aimed at finding a solution to their stand-off over the US giant’s plans to launch a European basketball league next year.
No deal has been struck but the meeting, held in Switzerland today, is being seen as a step towards a peace deal that would pave the way for cooperation over NBA Europe.
EuroLeague, organiser of Europe’s current premier basketball competition, is not currently part of the plans, which threaten to poach their biggest teams, including Real Madrid and Barcelona.
The NBA has insisted it would rather find a way to cooperate, while EuroLeague’s recent change of leadership has coincided with a softening of their opposition to the project.
“Representatives of Euroleague Basketball, FIBA and NBA met today at the FIBA Headquarters in Mies, Switzerland, where constructive discussions were held on the future of European basketball and on potential opportunities for collaboration,” all parties said in a joint statement.
“All three parties agreed on continuing the conversation in the upcoming weeks.”
It comes after the deadline passed earlier this month for potential investors to lodge initial, non-binding bids for permanent franchises in NBA Europe.
London, as expected, attracted the most interest, with the NBA and its advisers receiving several bids in excess of $1bn and others in the $500m-$1bn range, insiders said.
How NBA and EuroLeague relations thawed
NBA commissioner Adam Silver has spoken in recent weeks of his encouragement at EuroLeague’s willingness to find a mutually beneficial solution to the long-running stand-off.
“I think for the betterment of European basketball, the best outcome would be if we came together with the EuroLeague here and that we came up with a systematic approach to growing the game throughout Europe,” said Silver.
“That means complementing the country leagues, working together with the EuroLeague and working together with our federation, Fiba.”
EuroLeague chiefs are understood to have been pleasantly surprised by what they see as a softening in the NBA’s approach, having grown frustrated last year at a perceived lack of engagement.
In a boost to its negotiating position, EuroLeague and its 20 clubs – who also include teams in Paris, Munich, Athens, Istanbul and Dubai – were valued at €3.2bn by merchant bank JB Capital last month.