EuroLeague Secures 11 A‑License Clubs, Real Madrid Remains the Only NBA Europe Hopeful

Context The EuroLeague’s A‑license system guarantees long‑term participation for its top clubs. Recent negotiations saw most of those clubs reaffirm their commitment, while the NBA’s proposed European competition has struggled to attract binding investors.

Key Facts - Ten of the thirteen A‑license clubs—Efes, Baskonia, Barcelona, Maccabi, Olimpia Milan, Olympiakos, Panathinaikos, Bayern Munich, Žalgiris Kaunas, CSKA (license suspended) and ASVL Villeurbanne—have renewed for ten years. Each contract adds a €10 million penalty if a club withdraws. - ASVL Villeurbanne, previously uncertain due to financial issues, became the latest to sign, aligning with the EuroLeague despite interest from NBA‑linked investors. - Fenerbahçe has verbally agreed to the EuroLeague plan and is expected to formalise its commitment before the June club elections. - Real Madrid has not signed any agreement with the NBA Europe project and remains the only high‑profile club still considering it. - The NBA, according to French daily L’Equipe, may postpone its European launch to the 2028‑29 season after the April 28 meeting with EuroLeague ended without a deal. - Over 120 potential investors submitted letters of intent to the NBA, but none have converted those into binding contracts before the end‑May deadline.

What It Means The EuroLeague’s near‑complete lock‑in of its elite clubs strengthens its revenue stability and TV rights outlook. The €10 million breach clause creates a financial deterrent against defection, signaling confidence in the league’s long‑term model. Real Madrid’s hesitation leaves it isolated. If the NBA Europe project proceeds in 2028‑29, Madrid could lose its A‑license status and associated income streams, potentially relegating it to a “wild‑card” EuroLeague entry for the 2027‑28 season. Conversely, joining the NBA venture could unlock new revenue streams but would require navigating preferential treatment concerns and substantial upfront costs. The NBA’s likely postponement buys EuroLeague clubs more time to solidify their positions, while also widening the gap between the two continental visions. Investors and clubs will watch the NBA’s final decision and any subsequent formal commitments closely.

Looking ahead, the next critical milestone is the NBA’s official launch timeline and whether Real Madrid will sign a definitive agreement before the 2028‑29 season begins.