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Post by milehigh on Dec 8, 2023 19:35:18 GMT
The financial accounts for the period to the end of June 2023 are due to be submitted and published by the end of the month. That will provide a very good insite to the financial health of the league.
There were substantial financial deficits on the last accounts for mid 2022.
There was a compulsory action to wind up the 777 uk company earlier this year, and their accouns are currently significantly overdue.
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Post by eillo23 on Dec 8, 2023 19:36:26 GMT
Yep nothing or minimal. The broadcasting situation is the same. There is no marketing or advertising of note to truly get into the mainstream. The European competition has happened before - just we’ve got two teams happy to go in an invitation league. Record attendances? Nope, we’ve had bigger crowds than this. I think you're being a bit harsh. A lot has been achieved in the last couple of seasons. But I will agree with you there has been a failure to get any mainstream recognition. British basketball is achieving a lot but it is not getting any recognition. I agree with you there Dexter. Basketball has always struggled to get mainstream media attention in the U.K. On the whole… I don’t care who owns the league or who’s investing in it. All I want is for British Baksetball to grow and go in the right direction, which I feel it is now doing. Aslong as 777 stick to their word I will support them. I would rather take a risk on growth then carry on with the way it was going before the investment. |
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Post by eillo23 on Dec 8, 2023 19:37:58 GMT
The financial accounts for the period to the end of June 2023 are due t be submitted and published by the end of the month. That will provide a very good insite to the financial health of the league. There were substantial financial deficits on the last accounts for mid 2022. I would expect they are not going to be great… but that’s what happens with investments. This was never going to be a quick fix. The league needs commercial sponsorship. Until that happens the numbers won’t be great. |
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Post by docker on Dec 8, 2023 20:36:58 GMT
Baffles me that no one shows support towards 777 and what they have done for British basketball in the last 3 years. This is exactly why basketball hasn’t grown in the U.K. for the last 20+ years. Until I read anything from credible sources, I will continue to support 777, the BBL and all the current goings on in British Basketball. Forget everything you’ve read and answer me this: How do you expect 777 will make money from the entire project? They are venture capitalists after all. 777 did actually outline their longer term approach to investments in this podcast last year: www.hoopsfix.com/2022/02/why-777-invested-millions-into-the-bbl-with-lenz-balan-ep-107/ (skip to 14 minute mark) - it's not the classic "grow fast and flip it" venture capital model at all - they claim to be in it for the long haul. |
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Post by spacejammer on Dec 8, 2023 23:01:50 GMT
Forget everything you’ve read and answer me this: How do you expect 777 will make money from the entire project? They are venture capitalists after all. 777 did actually outline their longer term approach to investments in this podcast last year: www.hoopsfix.com/2022/02/why-777-invested-millions-into-the-bbl-with-lenz-balan-ep-107/ (skip to 14 minute mark) - it's not the classic "grow fast and flip it" venture capital model at all - they claim to be in it for the long haul. will definitely have a listen at some point. To be honest as I have said before I do like some of the things 777 have done in terms of media, production and trying things. At the same time you can't argue or blame the fans who don't want the league to become a 1 horse race or are unsure whether they can trust them. Again if their venture with London Lions and the league is as questionable as people who a smarter on investment then me say so then how exactly are they going to keep the league and the Lions going? In 10 years time will 777 still be around and the league growing? I agree with what Josmir are saying it does sound scary if it is true but also so far nothing has been done yet. However for all we know that might be because they don't have the evidence yet or they are building the case against 777 for all we know. |
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Post by foxtrot27 on Dec 8, 2023 23:50:31 GMT
Look, it’s really simple. There is too much negative issues around 777 for them to raise money and that same negativity flows to BBL. No sponsor will touch them, and no credible investor will come forth either. And even if 7 BBL clubs step away to form their own league, they too, having been so public in their support of 777, will also fail to raise capital. The metrics that really count are just not there either.
Drug trafficking, money laundering and fraud is kryptonite when it come to sport finance. Certainly seems like a very public flame out.
Where is that bloke that called this in the very beginning? Seems spot on now.
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Post by irf on Dec 9, 2023 8:21:26 GMT
Baffles me that no one shows support towards 777 and what they have done for British basketball in the last 3 years. This is exactly why basketball hasn’t grown in the U.K. for the last 20+ years. Until I read anything from credible sources, I will continue to support 777, the BBL and all the current goings on in British Basketball. According to the article it's the major investor/financial supporter of 777 who is questioning putting more money into BBL Assuming he's driven by profit rather than anything else thats pretty understandable We aren't the ones who are investing. He is. Can't see anything that's been achieved so far financially that would make him think that putting the levels of money in that Lions burn is a good way to invest his money |
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Post by irf on Dec 9, 2023 8:23:06 GMT
It’s well known inside the league there’s 4 clubs at least that want them gone. You can guess at which clubs they are. If payment obligations aren't being me then it's totally understandable though Regardless of anything else it makes running a sports club impossible |
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Post by irf on Dec 9, 2023 8:27:26 GMT
777 seem destined for a Netflix documentary at some stage
It's got all the hallmarks Netflix need lining up
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Post by notoriousbigz on Dec 9, 2023 9:19:23 GMT
Forget everything you’ve read and answer me this: How do you expect 777 will make money from the entire project? They are venture capitalists after all. 777 did actually outline their longer term approach to investments in this podcast last year: www.hoopsfix.com/2022/02/why-777-invested-millions-into-the-bbl-with-lenz-balan-ep-107/ (skip to 14 minute mark) - it's not the classic "grow fast and flip it" venture capital model at all - they claim to be in it for the long haul. Of course they're going to claim to be in it for the long haul. What else are they going to say? "We just want out at the right price". That's going to really attract investors isn't it. They can't afford to be pissing the kinds of money away that they have to date- and that's the bottom line. I'd love it to work, it's been fun certainly this season watching lions in Europe, but I'm not stupid enough to think this is forever. Far from it. The comedown from 777 is going to be ITV digital collapse on acid. |
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Post by dexter on Dec 9, 2023 11:48:36 GMT
It would be nice if they can finish this season.
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Post by ScottishBasketballFan on Dec 12, 2023 16:06:16 GMT
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Post by irf on Dec 12, 2023 16:58:50 GMT
I think Bigz is an Evertonian Fun fact. I used to play football in same team as Sean Dyche He's doing an absolute brilliant job for them Miracle worker |
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Post by sporty7 on Dec 12, 2023 17:55:56 GMT
So I wonder how 777 are going to get their £100m ' loan' back ?
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Post by LTfan on Dec 12, 2023 19:47:47 GMT
So I wonder how 777 are going to get their £100m ' loan' back ? Indeed, because the BBL and/or London Lions could really use that money right now! The fact that 777 have given Everton £100M without even knowing if they’d be allowed to purchase them does make their british basketball involvement seem a bit like a drop in the ocean. |
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Post by sonjel on Dec 12, 2023 22:41:32 GMT
So I wonder how 777 are going to get their £100m ' loan' back ? Indeed, because the BBL and/or London Lions could really use that money right now! The fact that 777 have given Everton £100M without even knowing if they’d be allowed to purchase them does make their british basketball involvement seem a bit like a drop in the ocean. ......or pie in the sky? |
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Post by eillo23 on Dec 13, 2023 10:48:27 GMT
So I wonder how 777 are going to get their £100m ' loan' back ? Indeed, because the BBL and/or London Lions could really use that money right now! The fact that 777 have given Everton £100M without even knowing if they’d be allowed to purchase them does make their british basketball involvement seem a bit like a drop in the ocean. Exactly. They have shares in 6 or 7 football teams. Own airlines. I’m sure the BBL are their biggest financial burden. |
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Post by milehigh on Dec 13, 2023 11:07:16 GMT
As the "spokesman" for 777 will know, they have a long line of debts and unpaid liabilities.
Sadly the BBL, and the clubs owned by 777, will collapse in the next few months.
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Post by eillo23 on Dec 13, 2023 12:52:08 GMT
As the "spokesman" for 777 will know, they have a long line of debts and unpaid liabilities. Sadly the BBL, and the clubs owned by 777, will collapse in the next few months. How confident of that are you? Curious. And what’s your source? |
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Post by dexter on Dec 13, 2023 13:05:00 GMT
As the "spokesman" for 777 will know, they have a long line of debts and unpaid liabilities. Sadly the BBL, and the clubs owned by 777, will collapse in the next few months. How confident of that are you? Curious. And what’s your source? I am 100% confident the BBL will collapse in the next few days, months, years or decades. |
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