EuroLeague's 13 shareholder clubs rejected a proposal by the US National Basketball Association (NBA) to combine competition with a planned NBA Europe project, but left the door open to further negotiations, according to media reports on Tuesday.
The decision came during a three-hour meeting of club owners at Villa d'Este in Cernobbio, Italy, according to Italy's La Gazzetta dello Sport.
The NBA proposal, submitted two weeks ago and due to expire Tuesday, was considered financially unsatisfactory by the clubs, the Italian sports daily reported.
The NBA reportedly plans to launch a 16-team European competition, including 12 permanent members.
EuroLeague confirmed Tuesday that its 13 shareholder clubs will be converted into franchises, while no formal decision was reached on plans to expand the competition from 20 to 24 teams.
The two sides are expected to continue discussions as they seek to reconcile their competing plans for European club basketball.
