EuroLeague Basketball's shareholders board met on Tuesday, 25 August, to review plans to expand the competition from 20 to 24 teams starting with the 2027-28 season, as part of a process to award up to eight new long-term franchise licences. Greek clubs PAOK and Aris have both expressed interest in joining, with PAOK, nicknamed the double-headed eagle of the north, having received pre-approval for a franchise.
The board of EuroLeague Commercial Assets (ECA) met to review progress on the Transformational Strategic Roadmap approved on 3 March, which aims to accelerate the league's long-term growth, create value and strengthen its global position. Members also discussed relations with the league's key partners, the franchise expansion process, commercial performance and implementation of the three-year Strategic Business Plan.
Agreements with players, coaches and referees
The board was told of a signed agreement with the EuroLeague Coaches Association (EHCB), which lays the groundwork for the first comprehensive Framework Agreement with the coaches' union. Shareholders were also updated on the renewal of the agreement with the referees' union (UEBO), expected to be signed next weekend in Wroclaw during the 27th Pre-season Refereeing Seminar.
Together with the existing agreement with the players' union (ELPA), the deals strengthen ties between EuroLeague Basketball and the players, coaches and referees who form the backbone of the sport, as the competition enters a new phase of its development.
Franchise expansion
The board received an update after the successful completion of the first round of franchise applications, which officially opened in July 2026 and aims to award up to eight new long-term franchise licences from the 2027-28 season. The process drew more than 20 formal expressions of interest and proposals, from existing EuroLeague and EuroCup clubs as well as new investment groups seeking to enter the competition.
Following an initial evaluation based on established criteria and financial valuations, 11 proposals were pre-approved for the first stage of allocation and moved to the next phase, while four further proposals remain under consideration. All 11 pre-approved candidates are submitting binding offers representing a combined value of almost 700 million euros in franchise fees, with total expected investment over the next five years exceeding 3.2 billion euros. Interest came from a broad range of markets, including traditional European basketball powers as well as new investment plans from continental Europe and the Middle East, underlining the growing commercial appeal of EuroLeague Basketball.
The board approved the continuation of evaluation and due diligence procedures for the 11 qualified candidates. In the second phase, EuroLeague Basketball will carry out a more extensive review of each proposal before presenting its final recommendations to the Assembly of Owners in late September 2026 for final approval. The process is expected to accelerate delivery of the Strategic Plan, pushing the combined value of the league and its clubs to 4.3 billion euros by 2027, according to forecasts from JB Capital.
Commercial growth
The board was also briefed on the competition's commercial performance and revised forecasts for the current business cycle. Management presented a forecast of 15% annual revenue growth, significantly higher than the figure presented at the General Assembly on 7 July, reflecting the league's latest commercial agreements.
Strategic Business Plan
Management updated the board on implementation of the three-year Strategic Business Plan, which includes initiatives focused on operational scaling and new growth opportunities. Progress highlighted included EuroLeague Basketball+ leading the league's digital transformation, and the modernisation of arenas through the newly established ArenaCO, set up to give clubs access to financing and expertise to upgrade or build their facilities. The Strategic Plan aims to raise EuroLeague Basketball's total enterprise valuation to 2.5 billion euros within three seasons.
NBA and FIBA talks
The chief executive also updated the board on recent constructive discussions with senior NBA and FIBA executives on possible areas of future cooperation in European basketball.
Chus Bueno, CEO of EuroLeague Basketball, said the league was going through a period of strong momentum, both commercially and strategically. He said the huge interest generated by the franchise process was clear proof of the confidence that clubs, investors and new groups had in the competition's future. Bueno said binding offers approaching 700 million euros, representing investment of more than 3.2 billion euros over the next five years, demonstrated the strength of the league's model.
He said the league would now continue with a rigorous due diligence process, adding that the aim was to present the conclusions to the board and the owners at the end of September, when the final transition to the franchise model would be voted on, determining the number and names of the teams taking part in the first stage of expansion for the 2027-28 season.
