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.
“As licensor for the British Basketball League (BBL), the British Basketball Federation (BBF) has been monitoring the financial position of Basketball League Ltd (BLL), the company with responsibility for operating the men’s professional league,” a statement from the BBF read. “The aim has been to allow for the consolidation of recent progress and to support the league’s sustainable growth in years to come.
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“However, information provided to the BBF concerning the finances of Basketball League Ltd, including the fact that BLL has entered into creditor arrangements with two of its largest creditors, indicates that BLL is no longer able to carry out its functions as operator of the British Basketball League. The BBF board has therefore unanimously agreed to terminate the licence with immediate effect.
“The BBF will continue to do everything possible to protect the interests of fans, players, staff and clubs and interim measures will immediately be put in place to take on organisation of the 2024-25 season, in co-ordination with stakeholders. Alongside this, the BBF is working to shape longer-term arrangements for the effective governance and development of professional league basketball in Britain.
“This process will be completed as soon as possible, taking account of the BBF’s obligation to conduct robust due diligence with regard to possible investors. The BBF regrets the need to take these actions, but is confident that standards in the governance and management of professional basketball in Britain will continue to rise, matching the clear progress already being made by GB basketball teams at elite level and the exciting growth of interest and participation in the game that has been witnessed more broadly.”
The BBL has been contacted for comment.