The announcement made by NBA Commissioner Adam Silver and FIBA secretary general Andreas Zagklis is a major step forward after the sides have gone back and forth with ideas about what might work.

A new team could emerge in the Paris market, owned by Qatar Sports Investments, which owns soccer giant Paris Saint-Germain. The 2024 Olympic host city already counts as its own Paris Basketball, which plays in the French national league and the EuroLeague, and has home games at both of the city’s large basketball arenas.

The new league would be integrated into the current European basketball scene, with teams also playing in their national leagues.