CERNOBBIO, ITALY — Euroleague Commercial Assets shareholder clubs have agreed to move forward with converting their current 10-year licences into franchises and to advance expansion plans, following a key strategic meeting in Cernobbio, Italy, on Tuesday, 6 October.
Euroleague Basketball President Dejan Bodiroga welcomed the attendees and highlighted the work carried out by the clubs over the past decades, which has driven unprecedented growth, interest and momentum for European club basketball. Euroleague Basketball CEO Chus Bueno then presented an update on progress against the approved strategic roadmap and the 10-year business plan, including the proposed conversion of the licences held by the thirteen shareholder clubs into franchises and expansion opportunities arising from multiple binding offers received from leading professional clubs.
The attending owners agreed to proceed with the conversion for all thirteen ECA shareholder clubs: Anadolu Efes Istanbul, Baskonia Vitoria-Gasteiz, CSKA Moscow, Armani Olimpia Milan, FC Barcelona, FC Bayern Munich, Fenerbahce Istanbul, LDLC ASVEL Villeurbanne, Maccabi Tel Aviv, Olympiacos Piraeus, Panathinaikos Athens, Real Madrid and Zalgiris Kaunas.
The clubs have also agreed to continue the process to expand the number of franchises and have appointed the Board of Directors to continue the review process and present a final recommendation for approval in the upcoming weeks. The meeting follows EuroLeague owners were set to meet in Cernobbio to discuss the NBA offer and expansion as part of the league's long-term strategic roadmap.