National Basketball Association is seeking to attract private capital for a new European basketball league, pitching potential investors on team valuations of up to $1bn as it accelerates international expansion plans, according to Bloomberg.

The proposed league would comprise 12 franchises, with the NBA retaining a 50% ownership stake. Four additional teams could participate without holding equity. London and Berlin are among the cities expected to host franchises, with the league potentially launching as early as next year.

The NBA plans to open a data room to prospective investors, including financial projections, and will host a private conference in London to meet potential backers, sponsors, and media partners. The league is being advised by JPMorgan Chase and the Raine Group.

Existing NBA owners have expressed interest in investing, although current rules prohibit ownership of more than one team. FIBA, basketball’s global governing body, is also expected to take a stake in the league.

The valuations would place NBA Europe franchises among the most expensive sports assets on the continent, despite basketball having a smaller audience than football. The NBA argues that its global brand and Europe’s established sports infrastructure could support rapid growth.

For private equity and institutional investors, the project represents another attempt to apply US-style franchise economics to European sports, following increased interest in football, Formula One, and media rights assets.

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