<span>EuroLeague clubs reject NBA overtures</span>

PARIS — The 13 shareholder clubs in EuroLeague basketball have rejected a partnership offer by the NBA, which is seeking to set up a rival competition on the continent, a source said on Tuesday. The NBA is looking to set up a franchise league in Europe from 2027 for 16 teams based in some of the continent’s major cities. Franchises, though, would need to stump up at least $500 million, and potentially up to $1 billion, to take part, with the NBA promising to distribute hundreds of millions of dollars per year to the teams in return. “The 13 shareholders unanimously rejected the offer, which they consider unacceptable in its current state,” the source said, while adding that the EuroLeague teams had not closed the door on future negotiations. Several media reports said that one of the participants at the meeting of EuroLeague clubs in Cernobbio in northern Italy had described the NBA offer as “colonialist.” The NBA’s project envisages a new league comprised of 12 permanent franchises based in London, Manchester, Berlin, Munich, Madrid, Barcelona, Paris, Lyon, Milan, Rome, Athens and Istanbul. The other four teams would be able to qualify for the NBA Europe competition. The sums involved, though, raise questions as the major European...