EuroLeague Seeks U.S. Investors, NBA Knowledge
A contingent of EuroLeague execs recently visited the U.S. to "outline the basketball league’s expansion strategy to potential investors and gain some operational expertise from the NBA," according to John Lombardo of SPORTSBUSINESS JOURNAL. Led by EuroLeague CEO Jordi Bertomeu, league representatives met with private equity firms and banks in mid-November, as the league "plans to add two teams next year for a total of 18 across Europe." Bertomeu "would not disclose any specific private equity groups or banks, but said he did meet with Galatioto Sports Partners." He said, "We have been focused on talking with different kinds of stakeholders. Some of the groups involved have been private equity and banks that are interested." As the EuroLeague drums up U.S. financial interest, the league also met with the NBA’s team marketing and business operations division in N.Y. as it "creates its own TMBO-like internal consulting department." The EuroLeague works with consulting firm G2 Strategic, owned by former NBA Portland Trail Blazers President Marshall Glickman, to assist in that effort (SPORTSBUSINESS JOURNAL, 11/26 issue).