(Photo credit: Cary Edmondson-Imagn Images)

The NBA and FIBA will jointly explore the creation of a new professional league in Europe, NBA commissioner Adam Silver and FIBA secretary general Andreas Zaglkis announced on Thursday.

Silver and Zaglkis made the announcement after the NBA board of governors meeting in New York and the FIBA executive committee meeting earlier this month in Mies, Switzerland.'The NBA and FIBA are uniquely positioned to build on the rich tradition of European basketball,' silver said. 'We look forward to collaborating with FIBA to explore the creation of a new league for fans across the continent.'

The league, which would aim to increase the game's growth and draw more fans throughout Europe, would merge into the current European basketball structure, allowing teams to play in their national leagues. While some of the teams will be permanent, others would be offered an opportunity to qualify based on merit.

'The European basketball community is proud of its seven-decade history of international club competitions and the elite talent it develops,' Zagklis said. 'Yet given the sport's popularity and the success of national team competitions, there is untapped potential in European club basketball.

'A new league in Europe would combine the NBA's business acumen with the international expertise of FIBA to attract new basketball fans and investors alike, maximize club benefits, and establish synergies for the benefit of all stakeholders.'

More than a year ago, the NBA and FIBA initiated talks with prospective partners, teams, developers and investors.

As part of the league, the NBA and FIBA plan to provide financial support and assist the development of Europe's basketball structure, namely team academies. The two organizations would also continue to back their existing programs to develop all aspects and levels of the game, including players, coaches and referees.--Field Level Media