The NBA is partnering with FIBA to explore a new professional men’s basketball league in Europe, potentially valued at over $1 billion per team. JPMorgan and the Raine Group are actively engaging with potential investors, aiming to green-light the league by March. The NBA sees a huge opportunity in Europe’s 270 million basketball fans.

The NBA plans to invest in European basketball to create a pipeline of talent and support domestic leagues. With 71 European-born players in the league, the NBA sees Europe as an untapped market for growth. Basketball is the fastest-growing sport in Europe, and the NBA aims to capitalize on this by expanding into major European cities.

The NBA is considering bringing teams to Berlin, Paris, Rome, London, Spain, Turkey, and Greece. Exhibition games could be played in Europe in the near future, with the potential for NBA teams to compete against European teams in special events. FIBA Secretary General Andreas Zagklis believes the league will benefit the entire European basketball ecosystem.

The NBA’s African League, in partnership with FIBA, has seen growth in attendance, merchandise sales, and social engagement over the past five seasons. The potential European league aims to replicate this success and bring more opportunities for players, clubs, and fans. The NBA sees a bright future for basketball in Europe and is excited to explore this new venture.

Read more at CNBC: NBA pursues ownership groups for Europe basketball league