- National Teams
Following on from a review of the professional league operating license by an independent License Review Committee, Basketball England have announced they will form a negotiation team to initiate discussions with BBALL UK about their £36million investment plans.
In a statement released today by the National Governing Body and published on the British Basketball League’s website, the two parties say they have reached an agreement on the approach to be followed to attract new investment for the whole of the sport.
“It is evident that the sport of basketball has the potential to access significant new investment,” the statement reads.
“Basketball England will coordinate the formation of a negotiation team, with representatives from across the sport, including from the professional BBL Clubs, and with expert financial and legal support.
“The team will initiate detailed discussions with BBallUK about their investment proposal, the terms of accessing the investment, any risks, risk mitigations, and the management and governance arrangements of any revised League structure.
“The negotiation team will also consider, in due course, other investment options, as appropriate.
“In any event, Basketball England and the professional clubs will ensure that there is a Pro League in the UK for the 2015/2016 season and, to that end, detailed planning will continue for the new season, in parallel with this consideration of new investment options.
“There is no risk to the current BBL clubs from these negotiations that they will not be able to participate in the top flight of men’s professional basketball next season, providing they remain in compliance with regulations. It is noted the BBL and its Clubs are all advancing with their plans to that effect.”