NBA Europe: London and Manchester bid race heats up as crunch meetings take place in New York around World Cup final

The race to own NBA Europe's first franchises - including those targeted in London and Manchester - reaches New York this weekend as wealthy investors descend for meetings with the NBA's top executives.

NBA Commissioner Adam Silver and Deputy Commissioner Mark Tatum will be speaking to bidders in town ahead of Sunday's World Cup final at MetLife Stadium.

• Jokic, Doncic, Wembanyama? Amaechi insists UK can produce NBA superstar
• Magic guard Black reveals how Man City striker Haaland inspires him
• Download Sky Sports app for analysis, video and more
• Get Sky Sports or stream with contract-free with NOW

Some of the top capital investment firms in the world are in the US metropolis for the showpiece and Silver intends to make the most of it with a view to shaping the deals for the first franchises, which are expected to drop in the coming weeks and months heading into the autumn.

"We've had tremendous interest from multiple cities in Europe, including cities that we didn't even ask for bids from," Silver said after the NBA's Board of Governors meeting in Las Vegas earlier this week.

"We discussed with our board today that we're in the process of finalising those bids, I think for an initial group of cities. Many of the people who are involved in those bids, the European bidders, are actually going to be in New York for the World Cup final on Sunday.

"Mark and I are going to be attending several meetings with them, given their presence in New York. I would say we're hoping to wrap up some of those deals over the next several weeks and then announcements will be forthcoming."

London is very much at the centre of the bidding race and is reported to be the most heavily contested market with multiple bids topping $1bn, Sky Sports understands.

Sky News has reported that Liberty Global, the majority shareholder of Formula E, tabled an offer for the London franchise and that former Tottenham Hotspur executive chairman Daniel Levy has joined a consortium being assembled with Jahm Najafi, the MSP Sports Capital co-founder.

Sky News also reported that the Reuben family, who hold a stake in Newcastle United, are among the suitors for the London team.

The Athletic reported that Buss Sports Capital - the investment group founded by members of the family who previously owned the Los Angeles Lakers - has bid in several cities, including London, Manchester and Lyon.

Overall, more than 20 groups submitted finalised bids by the end of June, with viable offers in all 12 target cities and multiple bids in the 10-figure range in select markets. City AM has reported that Saudi Arabia's Public Investment Fund and Chelsea co-owner Todd Boehly were among those credited with interest in London, the most sought-after franchise of all and the market with the most valuable committed bids, reportedly multiple above $1bn.

George Aivazoglou, the NBA's managing director for Europe and the Middle East, told Sky Sports: "We're extremely encouraged by the level of interest in the NBA and FIBA's proposed league in Europe, including from existing basketball and football clubs, outside investors, prospective commercial and media partners, federations, domestic leagues and, most importantly, fans.

"In addition to preserving and celebrating Europe's rich basketball traditions and passionate fanbases, we're particularly excited about the opportunity to bring permanent, world-class basketball to marquee European cities like London and Manchester here in the UK, where basketball fandom and participation are at an all-time high."

What is NBA Europe and what do we know about it?

NBA Europe is the creation of a new professional basketball league with the NBA working in partnership with FIBA, the sport's global governing body.

They are targeting an October 2027 launch - which Adam Silver said last month is very much "on schedule" - and barring an unlikely alliance it will act as a direct challenge to the existing EuroLeague at the top of the European club game. The plan is for 16 teams, 12 of which will be permanent franchises, plus four places earned each year on merit through FIBA competition.

Twelve cities have been targeted for the permanent franchises, London and Manchester, Paris and Lyon, Madrid and Barcelona, Milan and Rome, Berlin and Munich, plus Istanbul and Athens.

The NBA is looking to tap into the European fan culture which left NBA stars very impressed on their most recent European sojourn.

The first owners will be known soon, with announcements to follow and an expectation that the first NBA Europe teams will be unveiled by early autumn.