NBA Europe to Mirror The Hundred Sale Process as Franchise Bidding Deadline Arrives
Bidding for NBA Europe franchises is set to close on Tuesday, with the National Basketball Association borrowing directly from English cricket's playbook as it advances plans to launch a European league in 2027. Potential investors including Saudi Arabia's Public Investment Fund, RedBird Capital, and Qatar Sports Investments have until midnight New York time on Tuesday to submit their offers for one of the 12 permanent franchises within the 16-team competition.
Strategic Sales Process Led by Financial Powerhouses
The sales process is being managed by JPMorgan and the Raine Group, with the latter having successfully raised over £500 million during The Hundred sale last summer. The US merchant bank is poised to revisit several tactics that proved exceptionally effective in the English cricket sale, adapting them for the basketball market.
Once all offers have been collected, NBA Europe teams will be sold according to market size, with the London franchise anticipated to be the most valuable and attract the highest bids. This approach mirrors what occurred with London Spirit and Oval Invincibles during The Hundred sale. Bidders who miss out on their preferred team will be offered opportunities to bid for other franchises through a specialized matchmaking service.
This exact strategy previously enabled Chelsea FC co-owners Todd Boehly and Jonathan Goldstein to acquire stakes in Trent Rockets during the cricket sale, demonstrating its effectiveness in maximizing investor participation and franchise value.
European Cities and Their Prospective Franchise Owners
Manchester, Milan, Paris, Berlin, Munich, Barcelona, Madrid, Athens, and Istanbul are among the other cities designated to host permanent NBA Europe franchises, though many already have clear frontrunners for licensing rights.
RedBird Capital, which owns football giants AC Milan, is understood to be targeting control of Milan's NBA team, while Qatar Sports Investments, owners of Paris Saint-Germain, has similar ambitions for the French capital franchise. Whether either party would consider alternative locations remains uncertain.
Saudi Arabia's Public Investment Fund, which owns Newcastle United FC and is the primary backer of LIV Golf, is expected to bid for the London franchise. Meanwhile, Marshall Glickman, the US sports executive behind the unsuccessful GBBL takeover of British professional basketball last year, is also involved in a London bid.
Barcelona and Real Madrid, both of which already operate among Europe's largest basketball teams, are considered likely participants in NBA Europe. However, they must overcome significant hurdles related to pricing and their existing membership in the EuroLeague.
Valuation Challenges and Investor Dynamics
The NBA and its advisors have marketed the franchises with valuations ranging from $500 million to $1 billion each, figures that have faced widespread skepticism. Football club owners in particular have argued they should receive compensation for lending their intellectual property and fan bases to the new basketball venture.
Although this week's blind bids are non-binding, NBA commissioner Adam Silver has confirmed that "over 100" potential investors remain in contention after gaining access to the virtual data room earlier this year. The NBA has maintained strict confidentiality requirements throughout the process, with one bidder describing the necessary non-disclosure agreement as "gnarly."
Last week, bidders received warnings against sharing any details amid concerns about potential collusion to suppress prices, underscoring the competitive and secretive nature of this landmark sports expansion initiative.
