EuroLeague took its first concrete step toward a new competition structure following the club owners’ meeting in Cernobbio. The existing 13 shareholders will begin the process of converting their 10-year licenses into franchises, while the expansion process and admission of new clubs will continue.
Those were the two most important decisions officially announced by EuroLeague after Tuesday’s meeting on Lake Como, where the owners discussed the future of the competition, its 10-year business plan and strategic priorities for the coming period. EuroLeague rejected the NBA’s official proposal after its shareholders determined that the terms were not adequate.
The Existing 13 Shareholders Are Moving Toward Franchise Status
EuroLeague president Dejan Bodiroga opened the meeting, while CEO Chus Bueno presented the owners with an update on the implementation of the previously adopted strategy. One of the central issues was a change in the status of the clubs that currently make up the competition’s ownership structure.
The owners agreed to continue the process of converting the existing 10-year licenses into franchises for the 13 ECA shareholders: Anadolu Efes, Baskonia, CSKA, Olimpia Milano, Barcelona, Bayern, Fenerbahce, ASVEL, Maccabi Tel Aviv, Olympiacos, Panathinaikos, Real Madrid and Zalgiris.
EuroLeague Is Still Planning to Add New Franchises
EuroLeague has also kept the door open to new members. It officially confirmed that the process of increasing the number of franchises will continue after the competition received several binding offers from interested professional clubs.
The Board of Directors was tasked with continuing its review of the applications and presenting a final recommendation to the owners for approval in the coming weeks. That means a decision on the new franchises has not yet been made, so Partizan Mozzart Bet and Crvena zvezda, along with the other candidates, will have to wait a little longer.
According to previously published information, 13 clubs have submitted applications for new franchises: Partizan Mozzart Bet, Crvena zvezda, Dubai, Hapoel Tel Aviv, London Lions, Napoli, PAOK, Paris, Roma Maxima, Valencia, Virtus Bologna, Hapoel Jerusalem and Aris. The original plan called for the selection of new franchises and further expansion of the competition. Eight of the 13 clubs will receive franchise status.
The NBA Proposal Was Rejected Earlier in the Meeting
All of this carries additional weight because of what happened several hours earlier at the same meeting. According to Greek and Italian media reports, EuroLeague’s 13 owners rejected the NBA’s proposal for cooperation. The clubs were not completely aligned on the possibility of future negotiations, but the current offer was rejected. In some EuroLeague circles, the proposed model was described as “colonialist,” meaning it was viewed as too one-sided in favor of the American side.
Olympiacos, Barcelona, Olimpia Milano and Baskonia were reportedly among the strongest opponents of the proposed model, while Real Madrid, Panathinaikos and Fenerbahce were more open to further talks if the financial and strategic terms improved. They, too, however, accepted the collective decision to reject the current offer.
The NBA’s Condition Clashed With EuroLeague’s Own Plan
The NBA wanted EuroLeague to retain its current ownership structure, which was effectively at odds with the process the European competition had already set in motion: converting the existing owners into franchise holders and planning to increase their number in the future.
That gives EuroLeague’s official statement particular significance. The NBA is not mentioned in it, but EuroLeague confirmed that it intends to continue on the path it had set before the American proposal.
The existing 13 owners are moving toward permanent franchise status, while the process of selecting new members has not been halted. It is still unclear which clubs will receive the new franchises, but the Board of Directors is expected to present a concrete recommendation in the coming weeks.
After today’s meeting, EuroLeague’s plans for its own future are clearer.