By Eurohoops team / info@eurohoops.net
American technology billionaire Nikesh Arora is in talks to acquire the new London-based team expected to compete in NBA Europe, according to The New York Times.
The 58-year-old Palo Alto Networks CEO has reportedly assembled a consortium of investors prepared to offer more than $1 billion (£740 million) for the London franchise, considered one of the most valuable spots in the proposed competition.
Arora previously led Cricket Investor Holdings Limited, widely known as the “Tech Titans,” in the acquisition of a 49% stake in the London Spirit cricket franchise. The deal was valued at £145 million.
The NBA is targeting the second half of 2027 for the inaugural NBA Europe season. The proposed format would feature 16 teams, with 12 permanent licensed clubs and four additional sides qualifying through sporting merit.
According to an earlier report by The Athletic, Saudi Arabia’s Public Investment Fund was also expected to bid for a London-based team. Qatar Sports Investments, the owner of Paris Saint-Germain, was linked to a potential Paris franchise, while Gerry Cardinale’s RedBird Capital, which owns AC Milan, was expected to pursue a team in Milan.
More than 120 prospective investors reportedly submitted expressions of interest during the opening stage of the process. The bids ranged from $500 million to $1 billion, with several proposals exceeding the $1 billion mark.
“The level of engagement and the scale of the bids reflect the marketplace’s belief in our proposed model and the enormous, untapped potential for European basketball,” NBA deputy commissioner Mark Tatum said in April.
The group of interested parties also includes existing European clubs, among them teams currently competing in the EuroLeague.
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