NBA targets US$1 billion team valuations as it courts investors for Europe league
Proposed competition, which could start as soon as next year, would comprise 12 franchises, with the NBA retaining 50 per cent ownership
The National Basketball Association has prepared a pitch to investors on a new European league, targeting team valuations of up to US$1 billion, as it readied a pair of regular season games in London and Berlin.
NBA commissioner Adam Silver will attend a pair of regular season games in London and Berlin starting on Thursday between the Memphis Grizzlies and the Orlando Magic. Both cities are likely to host a team in a league that could debut as early as next year, according to sources.
The NBA will also open its data room for the planned European league to investors in the coming days, including financial projections, the sources said. The project would include 12 franchises and four additional teams that qualify for the competition without owning equity, while the NBA would retain a 50 per cent stake in the new league.