Apollo, Ares, and Sixth Street are in early-stage discussions to finance the NBA’s planned expansion into Europe, Bloomberg reported.

The proposed project centres on the creation of a European basketball league backed by the NBA, potentially combining newly established franchises with existing teams and football clubs entering the sport.

The initiative could generate multi-billion-dollar investment opportunities across franchises and infrastructure, drawing interest from approximately 120 prospective investors, including institutional capital and sports organisations.

The move reflects a broader trend of private capital increasing its exposure to sports assets, particularly in basketball. Firms such as Sixth Street and Apollo already have ownership stakes in NBA franchises, reinforcing their strategic alignment with the league’s long-term growth ambitions.

However, the project remains at an early stage, with no certainty that financing arrangements will be finalised. 

The expansion also faces structural challenges, including scepticism from European stakeholders and the complexity of integrating new teams into an established sports ecosystem.

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