(Photo credit: Kirby Lee-Imagn Images)

Multiple bidders have proposed investments of at least $1 billion in the startup NBA Europe league, The Athletic reported Wednesday.

Per multiple reports, there was interest from more than 120 investors ranging in price prior to Tuesday's midnight deadline for non-binding proposals.

'We have received significant interest from a range of prospective teams and investors for permanent franchise spots in a new league in Europe,' NBA deputy commissioner Mark Tatum said in a statement to The Athletic.

'The level of engagement and the scale of the bids reflect the marketplace's belief in our proposed model and the enormous, untapped potential for European basketball. We will now review the bids in more detail and shortlist the partners who share our vision and commitment to accelerating the growth of the game across the continent.'

The NBA reportedly is seeking between $500 million and $1 billion for a permanent entry into the league.

The reported targeted cities for 12 permanent franchises are London, Manchester, Paris, Lyon, Rome, Milan, Barcelona, Madrid, Berlin, Munich, Athens and Istanbul.

Those 12 'licensed' teams would be joined in competitive play every year by four teams that earn their way into the top league via performance at smaller leagues throughout Europe.

Talk has increased recently about the potential for a partnereship between the NBA and the EuroLeague. The potential also is there for the sides to clash over the planned NBA Europe.

'I think for the betterment of European basketball, the best outcome would be if we came together with the EuroLeague here and that we came up with a systematic approach to growing the game throughout Europe,' NBA commissioner Adam Silver said last week.

Silver's target remains an October 2027 launch for the NBA Europe league.

--Field Level Media