Is the Euroleague model the same concept as the soccer over there with Champions League and UEFA Cup? If so then it's not quite like having the teams playing in 2 different leagues as the Champs League is more like a tournament spread over 6 months rather than a regular league as such, but I'm not sure how the basketball works, it could be different, let me know.
I don't think a Champs League soccer style thing would work over here with basketball, there would be too much controversy about the top teams having to play too many games in a season while the other teams get a midweek rest, culturally I don't think the fans would see the merit in playing games in an Asian comp at the expense of their local performance.
On another issue, how many Singapore players are expected to play in their NBL team (assuming it all goes ahead). From what I can gather they're not a strong basketcall nation with few (if any) NBL calibre players. Would it essentially be a team of Aussies with an import or two and a token Singapore player or is the local ratio expected to be higher?