(Photo credit: Kirby Lee)

The NBA and FIBA intend to move forward with plans for a new professional league in Europe despite EuroLeague clubs rejecting a proposal for a partnership this week.

The organizations reaffirmed their commitment Thursday, two days after EuroLeague shareholders rejected the NBA's offer during a meeting in Italy.

'The NBA and FIBA remain committed to moving forward with a new professional men's league in Europe,' the organizations said in a joint statement, 'and helping build a stronger, more sustainable basketball ecosystem alongside partners who share our vision of growth, opportunity and the core principles of the European sports model.'

The NBA formally presented its proposal last month after nearly two years of work. EuroLeague officials believed the offer undervalued their competition, according to Front Office Sports.

The rejection does not necessarily end negotiations. Barcelona said this week that EuroLeague clubs would consider a revised offer, while several member teams have discussed potentially joining the new venture with the NBA.

The NBA and FIBA have been working toward a 16-team competition consisting of 12 permanent franchises and four teams that qualify annually through sporting merit.

The launch is targeted for 2027 or 2028, per reports, though the final timetable has not been set.

The NBA has already solicited bids from prospective ownership groups and teams across Europe. Commissioner Adam Silver said last month that the project would proceed even if the NBA could not reach an agreement with the EuroLeague.

EuroLeague, meanwhile, has discussed expanding from 20 to 24 teams, meaning the competitions could run alongside one another if no partnership materializes.

The modern EuroLeague was established in 2000 following a split in European club basketball that produced competing tournaments during the 2000-01 season.

--Field Level Media