"Our conversations with various stakeholders in Europe have reinforced our belief that an enormous opportunity exists around the creation of a new league on the continent, commissioner Adam Silver said in the NBA's release. Together with Fiba, we look forward to engaging prospective clubs and ownership groups that share our vision for the game's potential in Europe."
"Advancing further this joint NBA-Fiba project is great news for the European basketball community, Fiba secretary general Andreas Zagklis said. The format of the league respects European sport model principles by offering any ambitious club in the continent a fair pathway to the top. The project is conceived in a way that will improve the sustainability of the entire European basketball ecosystem, including players, clubs, leagues and national federations, by generating a knock-on effect that will strongly benefit basketball fans throughout Europe."
The NBA and Fiba intend to create a new professional European men's basketball league featuring permanent franchises plus additional spots awarded through an annual qualification pathway. Clubs can qualify via the Basketball Champions League or an end-of-year tournament. The league calendar will be scheduled to avoid conflicts with domestic and international competitions so players can meet all commitments. Investment bankers have pitched the opportunity to potential investors, with permanent franchise valuations possibly exceeding $1 billion. The project includes funding for pro, academy and grassroots development and aims to respect European sport model principles and improve sustainability across the basketball ecosystem.
Read at www.theguardian.com
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