- Investment firm 777 Partners holds 45% stake in league
- ‘The BBF will do everything possible to protect clubs’
The British Basketball League’s operating company has seen its licence terminated by the British Basketball Federation following concerns over its financial position.
Basketball League Ltd has been overseeing the men’s professional league under the terms of a 10-year licence granted by the sport’s governing body in 2017. However, as uncertainty continues over its financial position – with American-based investment firm 777 Partners, whose proposed takeover of Everton fell through, holding a 45% stake in the league along with ownership of the London Lions franchise – the BBF felt decisive action was needed ahead of planning for the 2024-25 season.
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Source link : https://www.theguardian.com/sport/article/2024/jun/14/british-basketball-league-operators-have-licence-terminated-over-finances
Author : PA Media
Publish date : 2024-06-14 12:41:53
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