The EuroLeague remains open to talks with the NBA regarding a possible merger in Europe, with EuroLeague CEO Chus Bueno, believing that a new league on the European scene would lead to greater… fragmentation rather than the desired consolidation.
“If they decide to (enter the market), it will be a disaster. And they know it, we know it, and we don’t want that,” Bueno told Reuters. “We had some discussions after Como. And the owners’ position was very clear. We’ll always be open to listening to and talking with the NBA about any potential agreement. But it has to make sense for us,” he added.
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“The lines of communication are open, and if something hasn’t worked out, perhaps there’s something that could work out in the future,” he continued, noting that the EuroLeague will announce the new teams joining the competition in mid-November.
The plan to expand to 24 teams involves transitioning to a franchise-based model, while the total value of EuroLeague-licensed clubs is projected to triple to 5.4 billion euros from the currently estimated 1.8 billion euros.
At the same time, Chus Bueno noted that under the franchise system, self-sustaining teams will be the overwhelming majority, rather than the minority as they are now. “I think that in five years, with this expansion, we could find ourselves in a position where most, if not all, will be financially viable,” he said.
He also argued that he does not consider it likely that EuroLeague teams would leave to join NBA Europe, maintaining that the risks involved would be too great for the teams. “I don’t believe that will happen. I think the teams want to stay together and act as one. That’s what I’m hearing, and that’s what we heard from everyone at Lake Como. If you’re divided, you lose value and, as a result, certain benefits for third parties. “One of the things we don’t want is more fragmentation,” Bueno said, adding that “it would be bad for basketball.”
Finally, he addressed the… consequences that a potential withdrawal from the EuroLeague to join NBA Europe would have for the teams. “If they want to leave, there’s a penalty they can pay, and then the clubs can also seek individual compensation. They’ll lose the more than 80 million euros they have in shares. But if they ever want to return, they’ll have to pay whatever amount is due when they ask to come back. So I think they have a lot to lose if they leave.”
*photo source: KYPE
