NBA Europe receives bids in excess of $1bn, frontrunners in place

NBA Europe has received bids exceeding $1 billion for its planned permanent franchises, with “front runners” identified in all 12 target markets, according to reporting referenced in the article. The league, a joint venture between the NBA and FIBA, is targeting 12 major European cities as anchors for a model that includes 12 permanent franchises and four additional participants from broader European competition. ESPN, which holds NBA media rights, said the NBA received multiple bids in all 12 markets, both within its $500 million asking price and beyond $1 billion. Mark Tatum, NBA deputy commissioner, confirmed viable front runners in each city, which include Milan, Rome, Berlin, Munich, London, Manchester, Paris, Lyon, Madrid, Barcelona, Istanbul and Athens. The project competes directly with EuroLeague, where Real Madrid recently reaffirmed a 10-year commitment.