Spanish Basketball League, Endesa Agree In Principle On Title Sponsorship Deal

After "months of conflict," the Spanish Basketball League (ACB) is "on the verge of resolving one of its various conflicts," according to Faustino Sáez of EL PAÍS. The ACB reached an agreement in principle to renew energy company Endesa's title sponsorship of the league for four seasons, "at a value that will oscillate" between €17M ($19M) and €19M ($21M). If confirmed, "the deal will consolidate one of the economic pillars of the ACB and reinforce the majority of clubs" after Barcelona, Real Madrid, Baskonia and Unicaja last week "threatened to leave the league." Endesa Dir General of Communications Alberto Fernández said, "The intention of Endesa has always been to remain with the ACB and we have shown this. Despite the current conflicts, we continue to bet on the Spanish Basketball League. We are convinced that all will be resolved and we cannot imagine a competition without the four EuroLeague teams" (EL PAÍS, 5/17).