A key deadline for non-binding bids for the NBA’s venture into Europe has “come and gone,” and the league office is “buoyed” with the results — all of which signals “building momentum for the proposed upstart league,” according to Lorenzo Reyes of USA TODAY. A source said that “north of 120 investment groups expressed interest in teams for the proposed league,” by the midnight ET Tuesday deadline, with “multiple bids even surpassing” $1B. The non-binding bids came from “wealthy individuals, investment firms and even existing teams in the EuroLeague.” NBA Deputy Commissioner Mark Tatum said, “The level of engagement and the scale of the bids reflect the marketplace’s belief in our proposed model and the enormous, untapped potential for European basketball. We will now review the bids in more detail and shortlist the partners who share our vision and commitment to accelerating the growth of the game across the continent.” Reyes noted now, the NBA will present the “most attractive bids to the Board of Governors for approval” (USA TODAY, 4/1).
LOOKING LONG-TERM: REUTERS’ Rory Carroll wrote there is “competition from a range of investors across each of the league’s 12 target cities” — including London, Manchester, Paris, Lyon, Rome, Milan, Barcelona, Madrid, Berlin, Munich, Athens and Istanbul. Sources said that the NBA and FIBA “plan to take a phased approach, prioritising the most serious bids that align with their long-term vision.” The NBA would then engage with its Board of Governors to select partners, while FIBA would follow its own process. The sources added that NBA and FIBA also “remain in active talks” with the EuroLeague, but a successful bid through their process is “the only way to secure a permanent place in the new competition” (REUTERS, 4/1). YAHOO SPORTS’ Ben Rohrbach wrote this comes days after Tatum presented an update on the NBA’s vision at the board of governors meeting. Sources said that no votes were taken on the matter in N.Y., but owners “continue to express ‘overwhelming support’ for the plan” (YAHOO SPORTS, 4/1).