RedBird Capital Partners, which owns AC Milan and holds a stake in Liverpool, is working with the NBA on plans for a new European basketball league and is strongly interested in securing a franchise, potentially based in Milan.
RedBird Capital Partners, the investment firm that owns Telegraph Media Group and holds a stake in Liverpool FC, is working closely with the NBA on plans to launch a new European basketball league, according to City AM reporter Frank Dalleres.
The US-based firm is said to be playing a key role in attracting potential investors and strategic partners.
That effort includes an exclusive meeting taking place in London on Monday, where RedBird founder and managing partner Gerry Cardinale will speak alongside operating partner and legendary football player Zlatan Ibrahimovic.
Sources familiar with the discussions told City AM that RedBird is "very interested" in acquiring one of the league's new franchises.
Milan is considered the most likely destination, given the firm's ownership of AC Milan and its established presence in the city.
RedBird became an indirect owner of Liverpool in 2021 after purchasing a minority stake in Fenway Sports Group (FSG), which controls the Premier League club.
Through the same investment, RedBird also has exposure to MLB's Boston Red Sox and the NHL's Pittsburgh Penguins.
The NBA is targeting a 2027 launch for the European league, which would feature 12 permanent teams and four additional spots available through annual qualification.
The league, advised by JP Morgan and the Raine Group, is reportedly seeking franchise entry fees ranging from $500 million to $1 billion.
NBA commissioner Adam Silver has recently held talks with several major European clubs. However, FC Barcelona is expected to remain in the EuroLeague, while Manchester United and Manchester City are not anticipated to be involved in the new project.
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