Hapoel Jerusalem Advances Toward Securing Permanent EuroLeague License

Hapoel Jerusalem announced on Wednesday that it is moving forward with efforts to obtain a permanent license to compete in the EuroLeague, Europe's premier basketball competition. The club's management is preparing to submit a binding proposal in the coming days as part of the licensing process. Owner Matan Adelson emphasized the club's clear ambition to compete at the highest level of European basketball.

Earlier this week, ahead of the EuroLeague shareholders meeting on August 25, Hapoel Jerusalem submitted an initial framework proposal regarding the possibility of acquiring a permanent franchise license. The club is now preparing for the next stage, which requires submitting a binding offer and receiving approval from the EuroLeague board. This phase includes other clubs that have also submitted binding proposals recently.

Concurrently, Hapoel Jerusalem is conducting a comprehensive due diligence process expected to continue over the next few weeks. The goal is to finalize and present a strong proposal by the EuroLeague board meeting scheduled for next month. The final offer will be based on significant financial strength and a strategic vision for the league's future.

The process is coordinated closely with EuroLeague management, including ongoing direct communication between Hapoel Jerusalem's leadership, led by Adelson, and EuroLeague CEO Jordi Bertomeu. The club stressed that contrary to recent reports, it remains a serious candidate for the permanent EuroLeague license.

Adelson stated, "We are approaching this process with full seriousness and commitment that such an opportunity demands. In the coming weeks, we intend to present a very strong proposal, both financially and strategically. We wholeheartedly believe in what Hapoel Jerusalem can bring to the EuroLeague and are confident our final proposal will provide a convincing basis for board approval."