By Christian Radnedge
LONDON, Jan 17 (Reuters) – The passion and tribalism of European soccer fans is something NBA commissioner Adam Silver is hoping will be part of the new basketball competition expected to launch on the continent in the next two years.
The NBA announced last year that it was exploring options for creating a new European-wide competition in partnership with world basketball body FIBA.
No teams have been announced but Silver said they were still in discussions with potential investors, while soccer clubs in Spain such as Barcelona and Real Madrid have had basketball teams for many years who compete in the EuroLeague.
Speaking a day before the Memphis Grizzlies meet the Orlando Magic at London’s O2 Arena, Silver said there had been discussions with leading European soccer clubs, such as Paris St Germain, and praised the fan culture that produces fierce rivalries, heated matches and deep familial connections.
“We want to design this (European league) for success… it means that the partners who invest in this league will understand that any revenues that exceed expenses… will need to be reinvested in the enterprise and to grow the sport,” Silver told reporters at a roundtable in London.
“To even dream of creating this sort of relevance that these top European football clubs have… that’s something that we don’t necessarily experience in the U.S., the depth of the religious fervour of some of these clubs, the way that the traditions are passed down from generation to generation.
“It is something that I wish every American sports fan could experience.”
FOREIGN INVESTMENT
According to the Sports Business Journal, the NBA is eyeing franchise fees in the range of $500 million to $1 billion and has hired JPMorgan and The Raine Group to refine the business plan.
Silver said they were open to all types of investment, including from sovereign wealth funds and private equity, something only allowed up to a point in the U.S. league.
“We’re talking to families that currently invest in sports, some who have not had the tradition of investing,” Silver said.
“In addition to talking to sovereign wealth funds, there are more traditional investment funds that have had some experience investing in sports, and then some just more traditional private equity funds that see sports as an asset class.”
London represents the NBA’s biggest success story outside of the U.S., with Sunday’s game being the 19th featuring an NBA team in Britain since 1993 and the league’s 10th regular-season game in Britain’s capital.
However, the poor state of British professional basketball means an NBA Europe franchise in London would be a significant step in developing interest and opening up a British talent pathway.
Around 15% of players in the NBA hail from Europe, with current big names like Luka Doncic from Slovenia, Giannis Antetokounmpo of Greece and Nikola Jokic from Serbia.
However, less than a dozen players have come from Britain in the league’s history, despite basketball often ranking as the second-most popular team sport after football for participation and engagement.
“We haven’t had the same sort of success (in producing players) in the UK as we have had in these other European countries,” Silver said.
“It’s not for lack of youth participation, it’s a very popular sport here from a development standpoint. At the same time, we haven’t had the luxury of a top-tier UK club in a long time. And to me, I just see it as opportunity.”
(Reporting by Christian Radnedge, editing by Ed Osmond)
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