Business
The NBA is pursuing ownership groups for a potential basketball league in Europe
NBA Commissioner Adam Silver speaks during a news conference following a meeting of the NBA’s board of governors at the Thomas & Mack Center in Las Vegas, July 15, 2025.
Chase Stevens | Las Vegas Review-journal | Getty Images
The NBA is looking to Europe for its next stage of growth.
The league announced on Monday that it will move forward with a joint exploration of a new professional men’s league in Europe, in partnership with the International Basketball Federation, also called FIBA. The NBA said it plans to start the process of engaging with prospective teams and ownership groups in January.
Franchise values could be upward of a $1 billion, according to a person familiar with the matter who requested anonymity to speak about details that haven’t been made public yet.
At the NBA Cup last week in Las Vegas, NBA Commissioner Adam Silver said JPMorgan and the Raine Group have been actively meeting with interested parties in Europe and that there is a lot of “positive interest” in moving forward.
The bankers have met with at least 70 potential investors, sources told CNBC. Discussions began about a year and a half ago. The goal is to take nonbinding bids next month and vote on green-lighting the league at the board of governors meeting in March, sources said.
NBA Deputy Commissioner Mark Tatum has said previously that the league is contemplating potential ownership by sovereign wealth funds. The NBA is also engaging current European soccer club owners.
The league first announced the exploration of a men’s basketball league in Europe last March.
“Our conversations with various stakeholders in Europe have reinforced our belief that an enormous opportunity exists around the creation of a new league on the continent,” Silver said in a release Monday. “Together with FIBA, we look forward to engaging prospective clubs and ownership groups that share our vision for the game’s potential in Europe.”
The NBA said it will also provide financial support and resources to European basketball. It plans to invest in domestic leagues and development across FIBA’s existing programs to create a pipeline of coaches, players and referees, according to the Monday release.
The NBA estimates there are 270 million potential basketball fans in Europe, calling it an “untapped market.” This year, on opening night, the NBA had 71 European-born players. Some of league’s biggest stars — Victor Wembanyama, Giannis Antetokounmpo, Nikola Jokić and Luka Dončić — hail from Europe.
Victor Wembanyama of the San Antonio Spurs celebrates after a 131-121 victory against the Washington Wizards at Capital One Arena in Washington, Feb. 10, 2025.
Greg Fiume | Getty Images
The NBA said basketball is the fastest-growing sport in Europe and the No. 2 sport behind only soccer. The league said the timing is perfect, as last season was the NBA’s most watched across the league’s social and digital channels.
The NBA believes the current European basketball market is undervalued and lacks teams in marquee cities, according to a source familiar with the matter. Two-thirds of teams in the already established EuroLeague lose money, according to the Wall Street Journal.
The NBA would be looking to bring teams to Berlin, Paris, Rome and London, according to the source. It is also considering Spain, Turkey and Greece.
If the NBA moves forward with the league, it could begin bringing exhibition teams to play in Europe in the near term. Eventually, there could even be NBA teams competing against European teams in a cup-style or all-star type event.
FIBA Secretary General Andreas Zagklis said the announcement is great news for European basketball and its fans.
“The project is conceived in a way that will improve the sustainability of the entire European basketball ecosystem, including players, clubs, leagues and national federations, by generating a knock-on effect that will strongly benefit basketball fans throughout Europe,” he said in a statement.
The NBA just completed the fifth season of its African League, also in partnership with FIBA. The league said it has grown every year in attendance, merchandise sales and social engagement.
Correction: This story has been updated to reflect the potential franchise value of teams.
Business
Tariff jitters: US consumer confidence slips in December; inflation and jobs worries deepen – The Times of India
US consumer confidence weakened in December, sliding to its lowest level since President Donald Trump rolled out sweeping tariffs earlier this year, as households grew more anxious about high prices, trade levies and job prospects, according to a survey by the Conference Board.The Conference Board said its consumer confidence index fell 3.8 points to 89.1 in December from an upwardly revised 92.9 in November, AP reported. The reading is close to the 85.7 level recorded in April, when the Trump administration introduced import taxes on key US trading partners, AP reported.Consumers’ assessment of current economic conditions saw a sharper drop. The present situation index fell 9.5 points to 116.8, reflecting growing unease about inflation and employment conditions. Write-in responses to the survey showed that prices and inflation remained the biggest concern for consumers, alongside tariffs.Short-term expectations for income, business conditions and the labour market were little changed at 70.7, but remained well below 80 — a threshold that can signal a recession ahead. This was the 11th straight month that expectations stayed under that level.Perceptions of the job market also weakened. The share of consumers who said jobs were “plentiful” fell to 26.7% in December from 28.2% in November, while those who said jobs were “hard to get” rose to 20.8% from 20.1%.The softer sentiment follows recent labour market data showing mixed signals. Government figures released last week showed the US economy added 64,000 jobs in November after losing 105,000 jobs in October. The unemployment rate climbed to 4.6% last month, its highest level since 2021.Economists say the labour market is stuck in a “low hire, low fire” phase, as companies remain cautious amid uncertainty over tariffs and the lingering effects of high interest rates. Since March, average monthly job creation has slowed to about 35,000, down from 71,000 in the year ended March. Federal Reserve chair Jerome Powell has said he suspects those figures could be revised even lower, AP reported.
Business
US economy grows at fastest pace in two years
The US economy picked up speed over the three months to September, as consumer spending jumped and exports increased.
The world’s largest economy expanded at an annual rate of 4.3%, up from 3.8% in the previous quarter. That was better than expected, and marked the strongest growth in two years.
The figures offer a clearer picture of the state of the US economy heading into the end of the year, after data collection had been delayed by the US government shutdown.
The report showed consumer spending rising by 3.5%, compared with 2.5% in the previous quarter.
Business
Fish and chip shop offers 100 free Christmas meals in Southampton
“It’s just a way of us giving back to the community,” says a fish and chip shop owner, who is giving away 100 free meals on Christmas Eve.
Raj Khaira, from Southampton, has owned Top Catch fish and chips in Shirley for five years and says he wants to support lonely people in the area.
He says he feels lucky to have a big family but knows for some customers a conversation with a shopkeeper might be the only one they have some days.
He says the shop will give portions of sausage and chips to those in need as a way of “giving back to the people who haven’t got family around them and sometimes can’t afford a hot meal”.
Mr Khaira speaks about working in business all of his life and how much he enjoys meeting “different people every day, from different backgrounds”.
“I’ve done it since I was a young kid so it’s all I really know,” he says.
He adds that many of his customers are elderly and do not have connections over the festive period.
“Christmas for majority of us is probably going to be a joyful and busy day but for some people it’s probably going to be a quiet day,” he says.
After posting about the plans to donate on social media he received a lot of publicity and Mr Khaira is prepared to “probably do more than” 100 meals.
He says the shop has already organised a toy and present drop off to Southampton hospitals this December, with many of the donations coming from customers.
He says: “We’re only where we are as a busy shop because of our community and our lovely customers that come in and sometimes you’ve got to give back and I’m happy to do that.”
Looking back on some of the negative news reported in Shirley earlier this year with the rise in anti-social behaviour in the area, he admits he had suffered.
His shop window was smashed in the summer, but he says: “Christmas time lets us just try and forget that for a minute and just try and have a good time, and reflect back on the year and hopefully next year is going to be a better one.”
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