Jordi Bertomeu Doubts NBA's European Project Valuations

Jordi Bertomeu says the valuations being floated for clubs joining the NBA's proposed European project do not match the reality of the continent's basketball market.

"In my view, valuations at the level you're talking about do not match the realities of European basketball. If that were achievable, the first consequence would be an almost universal change of current club owners for new ones – investors. Clearly the current clubs do not have the capacity for that kind of investment. At the same time, it remains to be seen whether football clubs are prepared to invest such sums in their basketball divisions. If the investment only turns a profit over a very long term, it should be remembered that sport and the sports industry change quickly. So forecasting over such a long period carries a great deal of uncertainty," Bertomeu said.

Bertomeu ran the Euroleague for more than 20 years before stepping back from active involvement in European basketball in recent years.

If his reading holds, the gap between NBA-style valuations and what Europe's current owners can actually put up may shape how quickly, or whether, the league's project gets off the ground.