The NBA is looking to Europe for its next stage of growth.
The league announced on Monday that it will move forward with a joint exploration of a new professional men’s league in Europe, in partnership with the International Basketball Federation, also called FIBA. The NBA said it plans to start the process of engaging with prospective teams and ownership groups in January.
Franchise values could be upward of a $1 million, according to a person familiar with the matter who requested anonymity to speak about details that haven’t been made public yet.
At the League Cup last week in Las Vegas, NBA Commissioner Adam Silver said JPMorgan
and the Raine Group have been actively meeting with interested parties in Europe and that there is a lot of “positive interest” in moving forward.
