Could Daniel Levy’s next major sporting project be basketball rather than football?
The former Tottenham Hotspur executive chairman is reportedly involved in a consortium attempting to secure the permanent London franchise in the NBA and FIBA’s proposed European competition.
According to Sky Sports’ report, Levy is among several wealthy bidders competing for what could become the most valuable franchise in NBA Europe.
No London ownership group has been officially selected. However, bids for the coveted market have reportedly reached—and in some cases exceeded—US$1 billion.
Levy joins powerful investment consortium
Levy is reportedly working with Iranian-American billionaire Jahm Najafi and representatives of Liberty Global.
Najafi is the chairman of MSP Sports Capital and holds a minority stake in the Phoenix Suns. Liberty Global owns a controlling interest in Formula E and has extensive experience across international media, telecommunications and sport.
The extent of Levy’s personal financial involvement has not been disclosed, but a source previously described him as “actively engaged” in discussions involving investors and the NBA.
His involvement makes strategic sense.
Levy spent almost 25 years running Tottenham and oversaw the development of the club’s 62,850-seat stadium, which opened in 2019. The venue was specifically designed as a multi-sport destination and regularly hosts NFL games, concerts and other major events.
Although it is unlikely to serve as the permanent home of an indoor basketball franchise, Levy’s experience building and commercialising a global sports operation would be valuable to any ownership group.
He left his position as Tottenham’s executive chairman in September 2025 and has since reduced his shareholding in ENIC, the Premier League club’s parent company.
London attracts billion-dollar competition
Levy’s consortium is not alone in pursuing London.
The Reuben family, which owns a stake in Newcastle United, has also been linked with a bid. Tech billionaire Nikesh Arora is reportedly leading another group offering approximately £740 million, while several other sports-investment companies have explored the opportunity.
Saudi Arabia’s Public Investment Fund and Chelsea co-owner Todd Boehly have also been credited with interest, although their formal involvement has not been confirmed.
That level of competition demonstrates why London is viewed as the jewel in NBA Europe’s proposed expansion.
The city has a population of almost nine million, a global commercial profile and several major arenas. It has also hosted 10 regular-season NBA games, most recently the Orlando Magic’s meeting with the Memphis Grizzlies at The O2 in January 2026.
London currently lacks a basketball club with the commercial scale of Europe’s established powers, leaving space for a new franchise to build an identity without competing directly against a EuroLeague giant.
However, attracting occasional sell-out crowds for NBA games is different from sustaining a permanent professional team across an entire season. The successful bidder will need to build a supporter base, develop local talent and find a suitable long-term arena.
What will NBA Europe look like?
The proposed competition is being developed by the NBA in partnership with FIBA, basketball’s international governing body.
Current plans feature 16 teams: 12 permanent franchises and four annual qualifiers.
The qualifying positions would be available through FIBA’s Basketball Champions League or another end-of-season tournament, providing clubs from domestic European competitions with a merit-based pathway into NBA Europe.
Target markets reportedly include:
- London
- Manchester
- Paris
- Madrid
- Barcelona
- Rome
- Milan
- Munich
- Berlin
- Istanbul
- Athens
- Lyon
The final cities and ownership groups have not yet been officially confirmed.
The NBA is aiming to launch the competition in the 2027-28 season, potentially beginning in October 2027. Teams would continue competing in their domestic leagues while also participating in NBA Europe.
That detail is crucial. This would not involve the NBA placing its existing American teams in Europe, nor would the London franchise compete against teams such as the Los Angeles Lakers or Boston Celtics during the regular season.
NBA Europe would be a separate continental competition supported by the NBA and FIBA.
NBA confirms strong bidding interest
NBA deputy commissioner Mark Tatum has confirmed that the project has attracted substantial interest from investors.
“We have received significant interest from a range of prospective teams and investors for permanent franchise spots in a new league in Europe,” Tatum said.
“The level of engagement and the scale of the bids reflect the marketplace’s belief in our proposed model and the enormous, untapped potential for European basketball.”
The NBA subsequently reported that final bids had been received for the 12 permanent positions, with “clear frontrunners” emerging in each target city.
Despite that optimism, the competition is still formally described as proposed. Long-term agreements require approval from the NBA and FIBA boards before the new league can be confirmed.
EuroLeague remains the major complication
NBA Europe would enter a market already occupied by the EuroLeague, which contains many of the continent’s biggest clubs.
Real Madrid, Barcelona, Olympiacos, Panathinaikos, Fenerbahçe and Anadolu Efes have established histories and passionate supporter bases that cannot simply be replicated by new franchises.
The NBA and FIBA have held discussions with EuroLeague officials and say they remain hopeful of reaching a collaborative agreement.
However, NBA commissioner Adam Silver has indicated the project could proceed even without EuroLeague support.
“We began on this path saying that our plan was to go forward regardless of where the EuroLeague stood,” Silver said.
“But it was always our hope that we would be able to create some sort of consolidation of European basketball.”
The battle for London may therefore be only the beginning.
Levy and his fellow investors are competing for an asset that could become one of European sport’s most valuable new franchises—but its success will depend on whether the NBA can turn enormous financial interest into a competition supporters genuinely embrace.
