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AC Milan owner Gerry Cardinale has confirmed plans to build a 20,000-seat arena in the San Donato comune, aiming to secure a future NBA franchise in Italy’s financial capital. Speaking to La Repubblica on Thursday, 59-year-old Cardinale discussed several topics about the football-soccer giant and revisited his ambitions for NBA Europe, providing an update regarding a new basketball venue. “Everything is set to break ground on a 20,000-seat NBA Europe arena,” he mentioned, emphasizing his desire to secure a permanent slot in the continental market. “We want to be there with a franchise in Milan.”
In an interview with EFE, carried by Marca, EuroLeague CEO Chus Bueno explained that the rejection of the NBA’s initial proposal had not ended discussions. However, EuroLeague will continue pursuing its own franchise model and expansion plans. “If they want to enter Europe and form an alliance with us, the clubs have to be part of this model, and the amounts have to be discussed,” Bueno said. “The clubs are open to joining, but they want all of them to be included and to find the best ways to avoid investing so much.” According to EFE, the initial proposal offered more than €500 million to be distributed among the shareholder clubs, while requiring each club joining the project to invest €440 million. Bueno declined to discuss the figures, citing confidentiality. “If there are other proposals from the NBA, our lines are open, but we will keep working on the EuroLeague model.”
Bueno also disputed NBA deputy commissioner Mark Tatum’s claim that NBA Europe could distribute three times as much money to clubs as EuroLeague’s projected business plan. He argued that any comparison must account for the initial entry investment required under the NBA proposal. “If franchises put in €500 million and earn €240 million over ten years, they are still losing €260 million. In our case, they don’t lose money because they don’t put anything in. If they generate €100 million or €200 million, that is what they generate.”
Amid reports that the NBA offered roughly $581M to buy EuroLeague -- and dangled entry fees of about $447M for EuroLeague teams to join NBA Europe -- sources said senior NBA leadership attended London’s Ballon d’Or Monday night and potentially held advanced discussions with several potential franchises.
Over the weekend, Britain’s Sky Sports reported that PSG, Bayern Munich, AC Milan, Barcelona and Real Madrid were expected to attend the Ballon d’Or event -- soccer’s preeminent award presentation -- and that NBA Europe could be broached in either casual or formal conversations. However, Barcelona-based publication Sport reported that Barcelona and Bayern (two EuroLeague clubs) were not expected to be in London and that, instead, Real Madrid remains the EuroLeague team most likely to engage with NBA executives. PSG does not have a basketball team and is also likely to continue talks about launching an NBA Europe franchise.
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Regardless, sources believe a topic in London could be the price points of joining the league, which are only now coming to light. Sport reported Sunday that the NBA offered €520 (the equivalent of $581.41M) to purchase the 13-team EuroLeague, which boils down to €40 per franchise. At the same time, Sport reported that instead of paying $500M to $1B to permanently join NBA Europe, the NBA would allow its preferred EuroLeague teams to pay €400 (or $447M) -- a presumed discount.
A crucial week is ahead for the NBA Europe project, according to reports from across Europe and information from Eurohoops sources. As Sky Sports reported, a meeting is expected in London, where the Ballon d’Or ceremony will be held on Monday.
Various sources have confirmed to EuroLeague that Barcelona and Bayern are keeping a firm stance, aligned with the decision taken in Como by the EuroLeague owners; on the other hand, Real Madrid seems to be the EuroLeague club more inclined to continue a dialogue with the NBA.
Sky News has learnt that executives from clubs understood to include AC Milan, Barcelona, Bayern Munich, Paris Saint-Germain and Real Madrid will hold talks with counterparts from the National Basketball Association (NBA) on Tuesday. The football club chiefs will be in London as a result of the Ballon d'Or awards ceremony in the capital on Monday evening, although it was unclear whether they would meet NBA executives in person or remotely.
Their discussions with the NBA come amid efforts to finalise the sale of a dozen franchises for a new European basketball league slated to launch late next year. A further four teams are expected to participate annually on a merit-related basis.
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With the NBA pressing ahead with plans to launch a new European league in 2027, the prospect of two rival competitions emerging is increasingly coming into focus. Bueno warned of the dangers of further fragmenting the market. "If they decide to (enter into the market), it's going to be a disaster. And they know, we know, and we don't want that," Bueno told Reuters on Monday. "We had some conversations after Como. And the position of the owners was very clear. We will always be open to listen, and to talk with the NBA about any potential deal. But it has to make sense for us," said Bueno. "The telephone lines are open and, if something has not worked, maybe there's something that can work in the future," he added, declining to elaborate on the terms of the NBA Europe proposal.
Bueno also said he viewed the prospect of Euroleague clubs leaving to join NBA Europe as unlikely, arguing that the risks involved would be too great for the teams concerned. "I don't believe this is going to happen. I think that the teams want to be together and act together. And this is what I'm hearing and what we heard in Lake Como from all of them. "If you are divided, you lose value, and then some third party benefits. One of the things that we don't want is more fragmentation," said Bueno, adding that "it will be bad for basketball."
"If they want to leave, they have a penalty they can pay, and then the clubs can also ask for individual damages. They will lose the €80 million-plus that they have in shares. "But if they ever want to come back, they will have to pay whatever number it is when they ask to come back," said Bueno, adding: "So I think that they have a lot to lose if they do (leave)."
Fournier believes that European basketball needs a better financial model, but questioned whether NBA involvement would preserve the atmosphere that makes it distinctive. “I think Europe needs a better business model. At the same time, the atmosphere is incredible. If the NBA comes, it will want to change certain things. If you lose that, you will lose the craziness of European basketball. They’ll look at what works best from a business perspective, with teams in attractive cities like London, Manchester and Rome. Personally, I don’t see it.”