I think Stern has something like an 'NBA Europe' in mind. Similar to the NFL Europe.
The idea in general is good, the question is: How well would people in Europe respond to that?
Soccer is by far the most popular sport over here. Speaking of London, they have about 10 or so professional soccer teams, including powerhouses Arsenal and Chelsea. I don't know if people would respond well to an NBA franchise in terms of buying tickets or merchandising products.
The same goes for Italy or Germany. It's mostly 'alternative fans' here that attend BBall games and most of them support a soccer team aswell.
I think NBA basketball in Europe wouldn't work. Summer games - yes please! But a regular franchise...they would suffer like the Grizzlies in Vancouver or probably worse.
Attracting players would be another problem. I can't see Melo or STAT or Wade living in London or Berlin while they're active players. It's a pretty big cultural difference.
The NBA belongs to America and that's a good thing! Great country and great sport. I as a European enjoy both, soccer and NBA basketball, but I would have no interest in a European franchise. When I decide to attend sport events in person it's soccer 99% of the time.
I got NBA league pass and watch my Knicks whenever I have 2 hours of time, but I couldn't arrange my free time around soccer AND basketball at the same time, would be impossible.
That's why league pass is a good thing, I haven't missed a Knicks game all season, because I watch them whenever time allows me and not when they are scheduled (which doesn't work anyway because of the time zones), but anyway soccer is played on the weekends AND in midweek, so watching or attending both is impossible.
I think the London franchise would have about 500-1000 spectators on a Champions League evening when Arsenal, Chelsea and Tottenham play. Europeans will always prefer soccer it's a cultural thing, like U.S. Americans knowing and watching football.
I don't even know the rules of football