LONDON (AP) — The NBA is advancing with its initiative to create a new basketball league in Europe, stating on Thursday that the existing model significantly undervalues the market.

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The EuroLeague’s owners recently declined a formal NBA proposal to merge into a single European operation. Nonetheless, both the NBA and FIBA expressed hope of eventually merging with the EuroLeague in the new league, which could launch as early as next year.

At the sports industry conference Leaders Week London, George Aivazoglou, the NBA managing director for Europe and the Middle East, elaborated on these plans. He emphasized the NBA's commitment to working collaboratively with those who share their vision for the future of European basketball. Aivazoglou pointed out that European basketball is not reaching its full potential and outlined the need for progress in the sport.

The decision against the NBA's merger proposal was made at a meeting of EuroLeague’s 13 shareholder clubs in Cernobbio on Tuesday. This group consists of prominent teams, including Barcelona, Bayern Munich, Real Madrid, and Olympiakos.

In a joint statement released earlier on Thursday, the NBA and FIBA asserted that a partnership with the EuroLeague would unlock significant potential for basketball across Europe, benefiting clubs, players, and fans alike. They reiterated their commitment to the new league, slated for a fall 2027 launch.

Barcelona has indicated that discussions around a merger may continue, stating that they would reconsider should a revised proposal be presented. NBA Commissioner Adam Silver has also reiterated that merging with the EuroLeague would enhance the new league’s prospects.

Plans for the NBA Europe venture, initially announced in March 2025, include a league comprised of both permanent franchises and teams qualifying based on performance. Current NBA stars from Europe, such as Luka Doncic and Giannis Antetokounmpo, highlight the region’s talent pool.

The EuroLeague, made up of 20 teams, includes 13 clubs that are immune to relegation, while additional teams qualify through domestic leagues or invitations. The NBA, in partnership with FIBA, envisions a new league with 16 teams.

Aivazoglou remarked that the NBA is prepared to create a legacy that will influence basketball for generations to come.