By Aris Barkas/ barkas@eurohoops.net
During the EuroLeague Final Four, traditionally, the EuroLeague CEO presents his vision for the future in an informal meeting with the press, which was held on Friday before the semifinal games.
This was the first time that new CEO Chus Bueno had such a meeting, and the future seems more than bright.
European basketball is entering a new era, and the EuroLeague, with the 13 shareholders staying united, is at the forefront. “There are 17 offers for new franchises, and we have 40 clubs that want to join the EuroCup”, said Bueno, confirming that basketball is on the rise.
To be exact, 14 of those new “franchises” are existing teams, including those who are currently competing in the EuroLeague without being shareholders, plus three funds that want to create their own teams in “virgin” markets, or even invest in current teams.
Plus 25 institutional funds are interested in investing in the EuroLeague or in its clubs, which are about to be transformed to “franchises” with the league still working on the legal details of this change.
“We are good, and we are going to be better”, said Bueno, explaining his plan for a digital marketplace which will include everything for the average basketball fan, from news and fantasy to betting, in an effort to further monetize the EuroLeague devotion.
As he explained, there are around 10 million hardcore basketball fans around Europe who are willing to spend money, and EuroLeague has to offer them the ability to do so, probably starting from next season: “We are good at bussiness to bussiness sale, we are trying to maximize TV rights, and also we want everything on a digital platform which will be aimed directly at the fans. There’s a market but not a marketplace”.
And those come from the core markets, not including “difficult” countries like France, the UK, or even Germany.
Breakfast with the NBA Europe managing director, George Aivazoglou
A former NBA employee, Bueno, is continuing the talks with the NBA about their European project, which may or may not include the EuroLeague. And the EuroLeague, on its side, may work or may not work with the NBA.
“We had breakfast yesterday with George”, said Bueno, and admitted that everything is on the table: “We are open to exploring, but this doesn’t mean it’s going to happen. There’s no time pressure for us or the NBA, but there’s a matter of momentum. Adam (Silver) said it, Mark (Tatum) said it, fragmentation is losing value. It would be better to maximise the opportunity together with the NBA”.
So the issue here is to have the proper understanding and a model that would work, as Bueno explained: “You can get a good deal in life, but it’s another thing to do a good project. It’s part of the process to understand each other. Everything is on the table; it’s too soon”.
Meanwhile, like the NBA, the EuroLeague is also talking to football clubs, as it was evident from the recent meeting of the EuroLeague president, Dejan Bodiroga, who met PSG president Nasser Al-Khelaifi, and Bueno is optimistic about the upcoming decision of Real Madrid, the only team/shareholder that has not yet signed the new 10-year deal with the league. “Teams know that their leverage is working together”, added Bueno.
He also explained what is really different in Europe compared to the US: “Here every single club is a community, not just a money play. Sports clubs were created to be communities and those are key values of the ecosystem”.
Arenas, new format, and “bad memory”
Under the new business plan of the EuroLeague, the league will also act as a platform for arena funding. Greek powerhouse Olympiacos is already in the process of refurbishing its arena, with Bueno admitting that he was also a “facilitator” in the whole process.
More teams can use the platform and a line of credit that the EuroLeague is going to have for this project, and also, the intention is to expand to 22 or 24 teams, hopefully from the 2027-28 season.
If that’s the case, then the format will change to two conferences, with the rules about their division still a matter of debate and fewer games in the season. This can also be a factor in the fact that, as Bueno said, “EuroLeague is here and can cooperate with FIBA. We want to do better with FIBA. We want to have a solution with Windows”.
“As I say, happiness is having a bad memory”, Bueno added, speaking about past friction with the international basketball governing body, which, after all, can play a role in the NIL situation, which bleeds Europe out of talent, sending young players for absurd amounts of money to the NCAA.
And on a more practical note, Chus Bueno said that there’s no fixed date on the decision of inclusion of Bourg in the EuroLeague, which may mean that Monaco or Paris might be out, and the league is monitoring the situation in the Middle East for the arrangements that Israeli teams must have next season, plus on September the league will decide if there’s the need to have an alternative in case the 2027 Final Four can’t be held in Abu Dhabi as it’s already announced.
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