Larry Tanenbaum Targets London Franchise in NBA Europe with One Billion Dollar Bid
Larry Tanenbaum is preparing a $1 billion bid for a London franchise in the upcoming NBA Europe league, according to reporting by sportune.20minutes.fr. Other continental clubs are projected between $500 million and $1 billion. Neither Tanenbaum nor the NBA has confirmed the discussions, and the businessman did not respond to inquiries from the Sports Business Journal.
Capitalizing on Maple Leaf Sports Sale to Fund Basketball Expansion
The Canadian businessman possesses the necessary capital following a major corporate transaction. His firm, Kilmer Sports, recently sold its 25 percent stake in Maple Leaf Sports & Entertainment to Rogers Communications for $3.10 billion, as reported by sportune.20minutes.fr. Tanenbaum brings deep familiarity with North American basketball operations, having served as chairman of the NBA board of governors for nine years and previously holding a minority stake in the Toronto Raptors.
League regulations prevent current NBA franchise owners from owning a European team. However, NBA rules permit individuals to hold a minority share of less than 5 percent in a European club. Sports Business Journal noted that the exact legal and financial structure Tanenbaum might use for the London project remains unclear.
Competing Bidders and Valuation Ceilings in London and Paris
London and Paris are expected to command the highest acquisition costs in the new competition, with valuations potentially exceeding $1 billion for each market. Tanenbaum’s reported offer could establish a high financial baseline for the entire league. Several other high-profile groups are positioning themselves for franchises in these prime locations.
Rival contenders include a consortium led by former Tottenham executive chairman Daniel Levy with backing from Liberty Global and MSP Sports Capital. Additional interested parties feature the Lewis family, Todd Boehly, a technology investor group named “Tech Titans,” and the Saudi sovereign wealth fund PIF, according to sportune.20minutes.fr.
October 2027 Launch Timeline and Relations with EuroLeague
The NBA intends to inaugurate the European competition in October 2027, proceeding with or without an agreement with EuroLeague. EuroLeague rejected a $581.41 million buyout and merger offer from the NBA. Real Madrid is viewed as the club most likely to pay an $11.6 million exit fee to join the new league, alongside permanent franchise targets in Manchester, Lyon, Rome, Milan, Athens, Berlin, Munich, and Istanbul.
Frequently Asked Questions About the Proposed NBA Europe League
What is the timeline for the launch of NBA Europe?
The NBA plans to launch the new European competition in October 2027, regardless of whether it reaches an agreement with EuroLeague.
How much are franchises in London and Paris expected to cost?
Acquisition costs for franchises in London and Paris are projected to exceed $1 billion, while other European markets are valued between $500 million and $1 billion, according to sportune.20minutes.fr.
Why is Larry Tanenbaum permitted to invest despite owning another sports entity?
While current NBA franchise owners are barred from owning European teams, league rules allow individuals to hold a minority share of under 5 percent in a European club.
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