This is the first briefing in a new European University Association (EUA) series focused on evolving university governance. The present publication explores the governance set-up of the European University Alliances formed under the EU's European Universities Initiative. For the first time, the document presents a comparative overview of the complex governance structures of these networks, examining their ability to sustain beyond the three-year project timeframe, while remaining relevant for their members. The analysis highlights several challenges that focus on the alliances' governance sustainability and draws the attention of universities and policy makers to the conditions needed to sustain their financial capacity and ensure increased collaboration and better alignment with institutional strategic priorities.