London is poised to become a key hub in the NBA Europe league, with Marshall Glickman, the American basketball executive behind the failed GBBL project, emerging as a central figure in one of the bids for a London franchise. According to sources familiar with the matter, Glickman is attached to an offer for the team, which is set to be established in the capital ahead of the league's planned launch next year.
Glickman's Persistent Pursuit of British Basketball
This bid represents Glickman's latest endeavor to gain a foothold in the British basketball scene, a market he has long believed holds significant untapped commercial potential. As a former president of the NBA's Portland Trail Blazers and acting CEO of EuroLeague, Glickman brings extensive experience to the table.
His previous attempt involved the GBBL project, which won a contentious tender process run by the now-defunct British Basketball Federation. However, the plan unraveled when Super League Basketball, the existing operator, sued the BBF and GBBL, and its clubs refused to participate. The BBF subsequently collapsed into liquidation late last year with debts of around half a million pounds, leading GBBL to disband as its license became worthless.
NBA Europe's Ambitious Expansion Plans
The development comes as the NBA approaches its deadline of March 31 for bids on the 12 permanent franchises in its proposed 16-team European league. London and Manchester are among the targeted cities, with the London franchise expected to be highly sought-after due to its strategic location and market size.
However, sources connected to multiple interested parties indicate that the NBA and its advisors, JPMorgan and the Raine Group, may face challenges in achieving their optimistic valuations of $500 million to $1 billion per team. This reflects the complexities of establishing a new league in a competitive sports landscape.
Competitive Landscape and Other Key Cities
Other cities targeted by the NBA for franchises include Paris, Berlin, Munich, Rome, Barcelona, and Madrid. Securing teams in these locations might require convincing established clubs to leave the incumbent EuroLeague, adding another layer of difficulty to the expansion efforts.
In a related move, City AM previously revealed that RedBird Capital, the owner of Italian football giants AC Milan, is likely to be the frontrunner for an NBA Europe franchise in Milan, highlighting the involvement of major investment groups in this ambitious venture.
As the deadline looms, Glickman's bid underscores the ongoing interest in leveraging London's sports market and the broader potential of European basketball. The outcome will shape the future of professional basketball in the region and test the NBA's ability to replicate its success overseas.
