The NBA plans to commit more than $3bn to its proposed new European basketball league as it looks to address concerns among potential team owners about a long wait for profits.
Following a soft deadline for bids in late March for 12 teams in the competition, the NBA said last month it had received “significant interest” from investors.
Several bids in the targeted $500mn to $1bn range were submitted, while some exceeded $1bn, according to people involved in the process.
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