Liberty Global (LBTYA, LBTYB, LBTYK) has presented an offer to buy a London-based franchise for a team that would join the National Basketball Association's planned European basketball league, Sky News reported Monday, citing sources familiar with the matter.
No financial details were disclosed. Sources told the news outlet that Liberty Global expressed interest in teaming up with MSP Sports Capital or Jahm Najafi, a founder of MSP.
Sky News said bids for the London team's franchise could worth hundreds of millions of pounds, with the entire auction of 10 to 12 teams potentially generating billions of dollars in revenue.
Liberty Global and the NBA did not immediately respond to MT Newswires' requests for comments.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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