The EuroLeague is entering a decisive stage in its transition to a permanent franchise model.
The league has confirmed that 11 candidates have advanced to the next phase of the process and submitted binding offers totaling nearly €700 million. The projects are expected to generate more than €3.2 billion in investment over the next five years, while up to eight new franchises could join the competition for the 2027-28 season.
The final decision will be made by the EuroLeague owners following the ongoing due diligence process, with recommendations expected at the start of October.
But which eight clubs should ultimately get the nod?
Seven EuroLeague teams appear to have the edge
Partizan, Crvena Zvezda, Virtus, Valencia, Paris, Hapoel Tel Aviv and Dubai currently look like the seven candidates with the clearest path toward a long-term EuroLeague franchise.
Partizan and Crvena Zvezda appear particularly difficult to separate from the process given their history, fan bases and importance to the Serbian and wider European basketball market. A scenario in which only one of the two Belgrade clubs receives a franchise would therefore come as a major surprise.
Virtus also has a case given its history, market and status as one of the most recognizable Italian basketball institutions. At the same time, its financial situation and visibly lower level of investment in the roster in recent years could make Virtus the least secure of the seven candidates currently viewed as the favorites.
Valencia and Paris offer established projects and strategically important markets, while Hapoel Tel Aviv has backed its ambitions with significant investment.
Dubai represents a different kind of proposition, but its financial strength and the opportunity to establish the EuroLeague in a major new market fit the competition’s long-term expansion strategy.
That leaves one potentially open place if the league awards all eight franchises in the first expansion phase. And that is where the race becomes much more interesting.
London, Napoli, Maxima Roma and PAOK in the fight
London Lions, Napoli, Maxima Roma and PAOK appear to be the four candidates with the most to play for when it comes to that final place.
London arguably has the biggest strategic upside. The British capital is one of Europe’s largest markets, and establishing a sustainable EuroLeague project in London would give the competition access to a market it has long wanted to develop. The Lions also have new investment behind the project and have been working on plans for a larger basketball infrastructure.
Napoli could be one of the most serious challengers. The club has invested heavily, strengthened its sporting project and presented an ambitious long-term vision, including plans for a new arena. Naples is also a major European city, while Italy remains one of the most important basketball markets on the continent.
However, Italy already has Virtus and Milano, while Maxima Roma and Roma SPQR offer another project built around one of Europe’s biggest cities.
That could make the Italian battle particularly important when the EuroLeague owners begin comparing the final candidates.
Maxima Roma is a newer project, but the potential of the Rome market is obvious. The question will be whether the project has already demonstrated enough long-term stability and infrastructure to compete with more established candidates.
PAOK, meanwhile, may have the most complete case of the four from a sporting perspective.
The Thessaloniki club has not only shown financial strength and long-term ambition, but has also built a roster that sends a clear message about the level of the project. Andrea Trinchieri has arrived as head coach, while PAOK made a major statement by signing Cedi Osman directly from Panathinaikos on a significant contract. Nick Calathes and other experienced additions further underline the club’s ambitions.
That gives PAOK something particularly important in the franchise race: a combination of financial backing, a competitive roster and a clear desire to operate at the highest level of European basketball.
The final decision, however, will not only concern individual applications. The EuroLeague owners will also have to determine how many clubs will be included in the first expansion phase and which projects best fit the league’s long-term strategy. That is why the battle for the final place could be far more difficult to predict than the position of the seven candidates who currently appear to have the strongest cases.
