The NBA Board of Governors is scheduled to review a second round of bids from prospective NBA Europe owners Tuesday. Sources said the league and FIBA are making significant progress toward an October 2027 launch, with additional action possible during the board's summer meetings in Las Vegas this week.

Sources with knowledge of the bidding process said the NBA has received numerous offers ranging from $500 million to more than $1 billion across each of its 12 target cities. More than 20 existing basketball and football clubs have submitted bids, including several current EuroLeague teams.

Every shortlisted club and investor group has extended an offer, with additional bids emerging for markets outside the league's original targets. Those target cities include London, Paris, Rome, Milan, Lyon, Madrid, Barcelona, Athens, Manchester, Istanbul, Berlin and Munich.

The NBA continues separate discussions with EuroLeague on a potential merger. EuroLeague clubs being courted by the NBA have renewed their EuroLeague license agreements, which include exit clauses worth roughly €10 million. Real Madrid, which holds a EuroLeague basketball team, is among the clubs that renewed its license while also considering NBA Europe membership.

No club will receive an NBA Europe license without paying the league's entry fee. Beyond its 12 permanent members, the league plans to add four teams annually based on performance in domestic leagues and FIBA tournaments.