More than 20 basketball clubs in Europe have submitted bids for the right to play in the NBA Europe, dpa has learnt, in what marks a further step towards the establishment of the new league.
The number of bids has more than doubled since the last deadline in March, dpa understands.
Investors had until the end of June to make their final bids for the NBA Europe.
The NBA and the ruling body FIBA plan to launch the new competition in October 2027.
The privately-run EuroLeague is the top event on the continent but a closed competition. The NBA Europe is to involve 12 fixed teams but four more can qualify via the Champions League.
In Germany, Alba Berlin and Bayern Munich are thought to have the best chances of being awarded one of the fixed spots.
Individual bids are thought to be ranging between €500 million ($570 million) and €1 billion.
"We are extremely encouraged by the final bids we received for permanent franchises in a new NBA and FIBA-backed league in Europe, which reflects the tremendous interest and momentum around this project," Deputy NBA Commissioner Mark Tatum said in a statement posted on Instagram on Tuesday evening, without giving exact figures.
There are also talks with the EuroLeague about potential future involvement.
NBA Europe chief George Aivazoglou told dpa last month that "talks have gained momentum."
"We will meet again in a few weeks. There will be an exchange in-between, but a lot still needs to be done," Aivazoglou said.
He added that the NBA Europe would also go ahead without the Euroleague.
