Bass family in talks to acquire French basketball club ASVEL

The Bass family, former owners of the Los Angeles Lakers, is in advanced negotiations to acquire the French basketball club ASVEL. The investment is being conducted through their business entity, Buss Sports Capital.

The potential acquisition comes during a period of significant financial restructuring for ASVEL. The club's budget was recently reduced from a planned 59 million euros to 24 million euros following the withdrawal of previous investors. This financial shift led to the departure of several key players and personnel, including Sylvain Francisco, Daniel Tarails, and Armony Brooks.

Negotiations regarding the purchase price are ongoing, with estimates placing the valuation between 60 and 80 million euros. While there was initial hope to finalize a deal by late September, the complexity of the acquisition has pushed the expected completion date toward the end of 2026. Discussions also involve determining the club's long-term strategic direction, specifically whether to focus on the EuroLeague or a potential NBA Europe project.