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Bertomeu seeks US investment for London Euroleague franchise

Jordi Bertomeu, the chief executive of the Euroleague, Europe’s top-tier basketball competition, is seeking US investors to help establish a London franchise, according to Spanish sports industry outlet Palco23.

London last had a team in the Euroleague in 2001, when the now-defunct London Towers competed in the tournament. Bertomeu has now said that it is a “medium-term” goal of the league to put a team back in the city as he seeks to continue the Euroleague’s impressive growth. Last month, it was revealed that revenues had reached nearly €60m, doubling in value in just two years.

Earlier this year, Bertomeu travelled to the US to survey potential investors interested in establishing a team. Bertomeu also claimed that any potential London Euroleague team would be unlikely to play in the domestic British Basketball League, “because the difference in competitiveness is very high.” No British team has competed in the Euroleague since the Towers, 18 years ago.

London is increasingly becoming a key growth market for various sports leagues. The NFL intends to put a franchise in the UK capital, while MLB will next year play an international series there between the Boston Red Sox and the New York Yankees.