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Post by isthaturinal on Oct 10, 2023 5:33:26 GMT
A number of BBL clubs have signed a letter demanding the resignation of league chair, Sir Rodney Walker.
He’s been active in lobbying to keep them on side with controversial American investors 777 Partners.
But told clubs now want them - and Walker - to exit.
It runs in parallel with BBF’s investigation into BBL and its links with 777 who have faced increased scrutiny over their business practices and funding sources since launching a takeover for Everton.
Understand FIBA have agreed to underwrite costs of BBF’s enquiries.
While BBF’s investigation by definition is into the league, rather than 777 specifically, reporting elsewhere suggests a damning report would force Premier League to block Everton takeover.
Interesting wrinkle is that even if BBL finds new investors to buy out 777, they would still own London Lions.
However now hard to see EuroLeague offering them any wild card type of entry given the reputational blowback.
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Post by irf on Oct 10, 2023 6:23:41 GMT
Is there a link to this story anywhere?
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Post by tony on Oct 10, 2023 7:18:21 GMT
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Post by spacejammer on Oct 10, 2023 7:45:46 GMT
Will be interesting to see how this develops but until something does go wrong I can't see this going anywhere anytime soon.
I wonder which clubs decided to sign?
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Post by sporty7 on Oct 10, 2023 8:09:34 GMT
Would you stick around if you don't have most of the clubs backing you?
I wouldn't
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Post by irf on Oct 10, 2023 8:13:34 GMT
It's a strange one
777 clearly have problems paying bills on time
Yet the money they have invested is huge in British Basketball terms
So it's almost having to decide whether to have big investment that doesn't pay on time and leads to huge uncertainties etc (there was even talk of BBL going into administration at one stage recently)
Or little or very low investment from somewhere else that's more consistent and reliable
Maybe the other clubs are happy for lesser plans for all but a more secure and guaranteed future with those lesser plans?
Ie the big ideas 777 have for the league are putting the whole financial viability of other clubs alongside them in jeapordy
It's not just BBL having issues with 777. Seems to be everything they touch has financial problems?
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Post by spacejammer on Oct 10, 2023 8:55:11 GMT
Would you stick around if you don't have most of the clubs backing you? I wouldn't If their corrupt then their not going to care whether they are loved or not as they are only after making and taking money. Strange how before they took over Lions we had never heard of them and now they've made themselves known to the world as they been trying to buy Everton Football club. |
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Post by irf on Oct 10, 2023 9:16:08 GMT
Would you stick around if you don't have most of the clubs backing you? I wouldn't If their corrupt then their not going to care whether they are loved or not as they are only after making and taking money. Strange how before they took over Lions we had never heard of them and now they've made themselves known to the world as they been trying to buy Everton Football club. Plenty of sports and clubs had already heard of them But problems just seem to follow them wherever they invest Ps wouldn't call them corrupt. Just the fact they seem to be having financial issues everywhere they are involved. They don't have to be corrupt to have financing issues. |
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Post by LTfan on Oct 10, 2023 9:22:00 GMT
Will be interesting to see how this develops but until something does go wrong I can't see this going anywhere anytime soon. I wonder which clubs decided to sign? Could be everyone apart from London, Plymouth and Manchester if the situation is as bad as some have been saying. I can’t see the BBL removing 777 Partners unless they have another investor ready to take over. Rumours are that there are other investors interested (although I don’t know to what extent), but they are just rumours. But without another investor to takeover the BBL would likely be left with substantial bills to pay and very little money to invest and build upon (or even maintain) the progress that’s been made in the last few years. So unless there’s a white knight waiting in the shadows I can’t see anything happening right now. But if 777 Partners are forced out that’ll leave a very interesting scenario regarding London Lions. Would the BBL look to remove London Lions from the league, despite them being the most high profile thing in British basketball right now? Would 777 Partners withdraw London Lions from the league and focus exclusively on EuroCup/Euroleague? Interesting times ahead no doubt… |
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Post by irf on Oct 10, 2023 9:39:07 GMT
Will be interesting to see how this develops but until something does go wrong I can't see this going anywhere anytime soon. I wonder which clubs decided to sign? Could be everyone apart from London, Plymouth and Manchester if the situation is as bad as some have been saying. I can’t see the BBL removing 777 Partners unless they have another investor ready to take over. Rumours are that there are other investors interested (although I don’t know to what extent), but they are just rumours. But without another investor to takeover the BBL would likely be left with substantial bills to pay and very little money to invest and build upon (or even maintain) the progress that’s been made in the last few years. So unless there’s a white knight waiting in the shadows I can’t see anything happening right now. But if 777 Partners are forced out that’ll leave a very interesting scenario regarding London Lions. Would the BBL look to remove London Lions from the league, despite them being the most high profile thing in British basketball right now? Would 777 Partners withdraw London Lions from the league and focus exclusively on EuroCup/Euroleague? Interesting times ahead no doubt… If Lions went alone and were no longer part of BBL would most basketball fans in Britain (apart from Lions fans) really care? Bigger issue would be losing Lions, Manchester and Plymouth together Its one thing 777 investing big in Lions and making them hard to beat. That's just a good challenge for other clubs to step up to. No problem at all with that. But if alongside that 777 aren't providing the funding to the league they've promised in a timely manner then it's a harder pill to swallow for the other clubs of course And in that situation the other clubs have good reason to wonder why are we allowing them to get away with this Lots of people have dedicated their lives to BBL. The Paul Blakes and Kevin Routledges etc They have a right to complain if a new organisation can come along, break promises and potentially threaten the financial stability of what had been built Assuming that's what is happening? |
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Post by LTfan on Oct 10, 2023 11:37:05 GMT
Could be everyone apart from London, Plymouth and Manchester if the situation is as bad as some have been saying. I can’t see the BBL removing 777 Partners unless they have another investor ready to take over. Rumours are that there are other investors interested (although I don’t know to what extent), but they are just rumours. But without another investor to takeover the BBL would likely be left with substantial bills to pay and very little money to invest and build upon (or even maintain) the progress that’s been made in the last few years. So unless there’s a white knight waiting in the shadows I can’t see anything happening right now. But if 777 Partners are forced out that’ll leave a very interesting scenario regarding London Lions. Would the BBL look to remove London Lions from the league, despite them being the most high profile thing in British basketball right now? Would 777 Partners withdraw London Lions from the league and focus exclusively on EuroCup/Euroleague? Interesting times ahead no doubt… If Lions went alone and were no longer part of BBL would most basketball fans in Britain (apart from Lions fans) really care? Bigger issue would be losing Lions, Manchester and Plymouth together Its one thing 777 investing big in Lions and making them hard to beat. That's just a good challenge for other clubs to step up to. No problem at all with that. But if alongside that 777 aren't providing the funding to the league they've promised in a timely manner then it's a harder pill to swallow for the other clubs of course And in that situation the other clubs have good reason to wonder why are we allowing them to get away with this Lots of people have dedicated their lives to BBL. The Paul Blakes and Kevin Routledges etc They have a right to complain if a new organisation can come along, break promises and potentially threaten the financial stability of what had been built Assuming that's what is happening? I don’t necessarily disagree with that, but if that’s the case you’d have to question why they got into bed with 777 Partners in the first place. Was it a lack of foresight and poor decision making? Or was it that the BBL was in such a position that it felt like it couldn’t afford to turn down what 777 Partners were offering, to the extent that that they were either blinkered to the risks or perhaps happy to accept said risks? Would British basketball fans care if London Lions parted ways with the BBL – either by force or decision? I think so. London Lions are at the forefront of British basketball right now, both in the UK and internationally. We might see a scenario where British basketball fans, or casual fans at least, and the media have no real interest in the BBL but do follow London Lions in EuroCup/Euroleague as that’s the bigger competition on the world stage. It would also be quite embarrassing for the British league to not include the biggest team in British basketball. So I think it would be best for everyone to still have London Lions in the BBL, but how realistic would that be if 777 Partners have been forcefully relieved of their BBL ownership? Admittedly I like in London so I accept my view might be somewhat biased. |
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Post by irf on Oct 10, 2023 12:08:42 GMT
If Lions went alone and were no longer part of BBL would most basketball fans in Britain (apart from Lions fans) really care? Bigger issue would be losing Lions, Manchester and Plymouth together Its one thing 777 investing big in Lions and making them hard to beat. That's just a good challenge for other clubs to step up to. No problem at all with that. But if alongside that 777 aren't providing the funding to the league they've promised in a timely manner then it's a harder pill to swallow for the other clubs of course And in that situation the other clubs have good reason to wonder why are we allowing them to get away with this Lots of people have dedicated their lives to BBL. The Paul Blakes and Kevin Routledges etc They have a right to complain if a new organisation can come along, break promises and potentially threaten the financial stability of what had been built Assuming that's what is happening? I don’t necessarily disagree with that, but if that’s the case you’d have to question why they got into bed with 777 Partners in the first place. Was it a lack of foresight and poor decision making? Or was it that the BBL was in such a position that it felt like it couldn’t afford to turn down what 777 Partners were offering, to the extent that that they were either blinkered to the risks or perhaps happy to accept said risks? Would British basketball fans care if London Lions parted ways with the BBL – either by force or decision? I think so. London Lions are at the forefront of British basketball right now, both in the UK and internationally. We might see a scenario where British basketball fans, or casual fans at least, and the media have no real interest in the BBL but do follow London Lions in EuroCup/Euroleague as that’s the bigger competition on the world stage. It would also be quite embarrassing for the British league to not include the biggest team in British basketball. So I think it would be best for everyone to still have London Lions in the BBL, but how realistic would that be if 777 Partners have been forcefully relieved of their BBL ownership? Admittedly I like in London so I accept my view might be somewhat biased. All good points above Agreed BBL clearly needed help when 777 got involved but that doesn't stop 777 needing to deliver what they've promised I don't think Lions progress to date has really made any ripples anywhere that there's a lot to lose without them But obviously would prefer them to stay |
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