"There are at least three major issues to resolve. The first is obviously financial: it's not easy to understand how much it would cost RedBird to join the league. This week, the NBA opened its data room - the files containing accounts and forecasts for NBA Europe - to all interested parties (funds like RedBird, football clubs and existing basketball teams). The cost of the franchises would range between $500m and $1bn, depending on the size of the market and the club's influence."
"A market like London, for example, where there's no basketball team but Europe's best arena (the O2) and significant economic interests, is valued at $1bn in the NBA's plans. Real Madrid, arguably the most famous club in the world with an already established fan base, could pay half that. Milan, in the NBA's plans, likely falls somewhere in the middle. The NBA are expecting non-binding offers by the end of March, so there's room for negotiation on the amount."
Gerry Cardinale and RedBird are actively evaluating joining the NBA Europe expansion and are in ongoing contact with the NBA. The NBA opened a data room containing accounts and forecasts for NBA Europe and invited funds, football clubs, and existing basketball teams to review it. Franchise valuations are estimated between $500 million and $1 billion depending on market size and club influence, with London at $1 billion and Real Madrid around $500 million. Milan likely sits between those valuations. Key issues include financing, relations with Olimpia and Inter, and whether Milan and Olimpia will submit joint or separate non-binding offers by the deadline.
Read at SempreMilan
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