EuroLeague clubs adopt permanent franchise model and reject €2 billion NBA offer

Permanent franchise transition

The 13 shareholder clubs of Euroleague Commercial Assets (ECA) gathered on Tuesday, 6 October 2026, in Cernobbio on the shores of Lake Como to align on strategic decisions regarding league governance. During the summit, club owners approved the transition of their existing 10-year operating licenses into permanent franchise status. The 13 clubs holding shareholder status are Anadolu Efes Istanbul, Baskonia Vitoria-Gasteiz, CSKA Moscow, Armani Olimpia Milan, FC Barcelona, FC Bayern Munich, Fenerbahce Istanbul, LDLC ASVEL Villeurbanne, Maccabi Tel Aviv, Olympiacos Piraeus, Panathinaikos Athens, Real Madrid, and Zalgiris Kaunas. Euroleague Basketball President Dejan Bodiroga opened the assembly by welcoming the delegates and praising the collective development achieved by the clubs over recent decades. Euroleague Basketball Chief Executive Officer Chus Bueno then delivered a presentation detailing progress made under the league's approved strategic roadmap and 10-year business plan.

Rejection of NBA buyout proposal

The shareholder assembly voted unanimously to reject an acquisition proposal submitted by the NBA. League sources reported that the North American proposal carried a valuation of up to €2 billion, a sum that European club owners deemed insufficient relative to their expectations. Club owners expressed firm opposition to conditions requiring them to pay to secure franchise status and hand over operational management of the league to the NBA. While some club delegations were open to further negotiation, others rejected the terms outright. Olympiacos management maintained a particularly rigid position against the proposal, and several club executives characterised the offer as aggressive and unacceptable. Following the discussions, the meeting endorsed the concept of staging two concurrent competitions, the EuroLeague and NBA Europe, establishing a framework for potential cooperation in the future.

League expansion and governance roadmap

Alongside the franchise conversion for founder clubs, the shareholders addressed plans to expand the tournament roster from 20 to 24 teams. EuroLeague officials reported receipt of multiple binding proposals from prominent professional clubs seeking entry into the competition. Rather than finalizing the four expansion slots during the Italian meeting, the owners instructed the EuroLeague Board of Directors to continue reviewing the bids. The board is scheduled to present a definitive, binding proposal for shareholder approval within the coming weeks.

The clubs agreed to continue the process for expanding the number of franchises.

The resulting structure combines fixed equity security for the 13 founding shareholders with an expanded field designed to broaden commercial and athletic reach.

Summit attendance and next steps

The Cernobbio gathering also reflected notable administrative dynamics among club leadership. Panathinaikos owner Dimitris Giannakopoulos traveled to Italy and attended the official delegates' dinner on the evening of Monday, 5 October 2026. However, Giannakopoulos did not participate in the formal working session on Tuesday, leaving Panathinaikos represented at the negotiating table and in the official commemorative photograph by Vasilis Parthenopoulos. Following the conclusion of the summit, the EuroLeague administration confirmed that shareholder alignment remains intact across both commercial and sporting objectives as the board prepares the expansion portfolio.