(Bloomberg) -- EuroLeague, the top tier of men’s professional basketball in Europe, is exploring raising capital through the sale of a minority stake, Chief Executive Officer Paulius Motiejunas said. 

The Barcelona-based league, with teams representing cities including Milan, Munich, Monaco, Tel Aviv and Athens, is working with LionTree to solicit interest from potential strategic investors, Motiejunas said in an interview.

“We think we have a great product and there’s many things we can do to help the league and the clubs grow, such as upgrading the venues,” he said. EuroLeague may be valued at more than €1 billion ($1.1 billion) in any transaction, Motiejunas said, adding that no terms have been finalized. 

The league said in January that EuroLeague TV subscriptions are up 45% from a year ago, and minutes watched had jumped 114%. EuroLeague said that 4.46 billion people watched its games and content during the 2022-2023 season.

Real Madrid, Panathinaikos AKTOR Athens and AS Monaco are at the top of the league standings this year. The regular season runs through April 12, followed by playoffs that culminate with a final four competition the last weekend of May.

The National Basketball Association is considering ways to expand the sport in Europe, including potentially excluding the EuroLeague by forming a new standalone NBA Europe league, and has been working with Raine Group LLC to evaluate opportunities in the region, Sportico reported last month. 

(Updates to add standings in fifth paragraph.)

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