NBA Europe an exciting opportunity for Super League Basketball, says chair
The NBA’s creation of new teams in London and Manchester for its planned European venture is “an exciting opportunity” for Super League Basketball, says interim chair Sanjay Bhandari.
The two teams are expected to play in both NBA Europe and SLB, the top-tier domestic competition, potentially offering a major boost to the profile of the British game.
“This is a significant development for European basketball as a whole and the likely impact on participation and engagement within British basketball is clear,” said Bhandari.
“The NBA-Fiba project is exploring teams in London and Manchester – two of the UK’s great sporting cities with rich basketball histories and passionate fan bases.
“SLB sees this as an exciting opportunity to further develop elite sporting rivalries, raise the profile of the game nationally and inspire new audiences across the country.”
The NBA intends to launch its European league next year with 16 teams, with teams in London, and Manchester among 12 permanent franchises.
SLB plots way forward after turbulent period
It has engaged JPMorgan and the Raine Group to solicit offers for the franchises, which have an estimated price tag of between $500m and $1bn.
RedBird Capital Partners, owner of AC Milan, is expected to bid for a franchise in the Italian city, while the owners of SLB side Manchester Basketball told Morning Wire they were considering partnering with private equity or sovereign wealth to pitch for the NBA Europe team.
SLB has entered a much-needed period of stability following a protracted legal battle with governing the British Basketball Federation which saw the BBF go into liquidation.
The league is part of talks with world governing body Fiba and UK sport authorities on the creation of an entity to replace the BBF.
Bhandari added: “SLB remains committed to working collaboratively with Fiba, the Home Nations (Basketball England, Basketball Scotland, and Basketball Wales), and the Government, as discussions continue around the future structure of basketball in Great Britain.
“These conversations are focused on ensuring the sport has a clear, sustainable framework that supports participation, performance and commercial growth at all levels.”