NBA commissioner David Stern has offered up some new details about NBA basketball in Europe in the coming years while also throwing his arms around foreign investment in his league including Russian Mikhail Prokhorov buying the New Jersey Nets.

Just when it seemed like things looked bleak regarding the NBA playing regular season games in Europe, news comes from the NBA game in London earlier this week that things are still moving towards something along the lines of an NBA division.

Here are David Stern’s comments to CNBC’s World Exchange on Oct.6 when asked if we can expect a full blown NBA league in Europe around the time of the 2012 Olympics.

“Actually I think it’s getting closer. But I wouldn’t give you a specific date. Obviously we have talked about it. There are only two NBA-style arenas now – one in London, O2, one in Berlin, O2 World. There’s some pretty good ones. But we expect there to be more. Down the road, there will be, I believe, an NBA division of teams playing in our league in Europe. But I’m not ready to give you a date when that will happen. It’s more fun to speculate about it.

Stern also threw his arms around the idea of more foreign investment in his league, following the Nets’ sale to the Russian billionaire.

“The flow of global finance like the flow of global sports talent is more than welcome. Twenty percent of our league is composed of international players and we expect more and more international investors – not unlike the EPL and other opportunities. We see invest opportunities in sports growing.”

He also spoke about how the NBA will help leagues in China and elsewhere in Asia.
“The model outside the U.S. in Asia will be co-operation with local leagues using the NBA’s expertise in marketing, promotion and basketball development to help an NBA partnered league do well in China and other parts of Asia and Latin America. Ultimately in Africa as well.”

Here is the full interview:

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