Tanenbaum reportedly bids $1bn for NBA Europe London franchise

Tanenbaum's London bid

Larry Tanenbaum has reportedly submitted a $1 billion bid for an NBA Europe franchise in London, according to GiveMeSport. The report said the former Toronto Raptors minority owner is competing in a crowded London race. GiveMeSport named groups tied to Daniel Levy, the Lewis family, Todd Boehly and Saudi Arabia's Public Investment Fund as expected competitors. It said Nikesh Arora has been linked to a London team that could play in a planned 25,000-seat London Colosseum. The report also said Paris Saint-Germain appears in pole position for the Paris franchise.

The sale and the bid

Tanenbaum sold his 25% stake in Maple Leaf Sports and Entertainment to Rogers Communications for $3.1 billion, GiveMeSport reported. The $1 billion bid is less than a third of that sale price. He won an NBA title as a Raptors minority owner in 2019 and recently stepped down as chairman of the NBA Board of Governors after nearly a decade.

Bids and valuations

BBC Sport reported that the NBA had received several billion-dollar bids for teams in the proposed league, along with multiple bids worth $500 million to $1 billion. Those figures cover bids for teams across the league, not a valuation of the London slot alone. GiveMeSport, citing Sports Business Journal, reported that people close to the process expect London and Paris franchise values to exceed $1 billion, while other cities would draw $500 million to $1 billion. That is a valuation estimate, separate from Tanenbaum's reported bid.

BBC Sport reported that more than a dozen existing teams had been in talks with the NBA, including some EuroLeague clubs, and that teams from London and Manchester were expected to feature. Mark Tatum, the NBA's deputy commissioner and chief operating officer, said the league had "received significant interest from a range of prospective teams." Tatum said the NBA would review the bids and shortlist partners.

Timeline and team count

Front Office Sports reported in January 2026 that the NBA targeted a 12-team league for fall 2027. By June, NBA commissioner Adam Silver said the plan was for 16 teams, 12 permanent and four earning places each year through FIBA's Basketball Champions League or an end-of-season qualifying tournament. Silver spoke at his NBA Finals press conference and said: "We are on track." BNN Bloomberg reported that the league was closing bidding at the end of June and expected to announce franchises by autumn. Silver put the launch in October 2027.

EuroLeague resistance

The EuroLeague has warned the NBA of possible legal action if it recruits teams under contract, Front Office Sports reported on 22 January 2026, naming Barcelona and Real Madrid among the brands at stake. GiveMeSport reported, citing journalist Kerrie Jacobs-Bryant, that the EuroLeague board rejected a reported $581 million NBA offer to buy and merge with the competition. The EuroLeague did not comment to BBC Sport on the talks but said it was open to exploring ways to collaborate. It runs a 20-team competition in which 16 clubs hold long-term licences, BNN Bloomberg reported.

Launch format and investment

If the talks stall, GiveMeSport reported the NBA is expected to begin with a tournament-style competition or another limited format before expanding into a full league. BNN Bloomberg reported the NBA plans to invest more than $3 billion in support of the European league. FIBA general secretary Andreas Zagklis said qualifying teams would get equal starting revenue and equal access to performance-related revenue.