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Post by saintpat on Apr 29, 2020 17:11:04 GMT
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Post by saintpat on Apr 29, 2020 17:14:50 GMT
Looks like a game changer for Lions. Europe already in their sights. Good to see that Vince is still heavily involved.
Let's just hope this is a long term project for this group.
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Post by youngrocks on Apr 29, 2020 17:53:12 GMT
The cynic in me says how long will they hang around with vince.
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Post by saintpat on Apr 29, 2020 18:19:42 GMT
Just listened fully to the podcast & Vince is director of basketball & coach. Obviously he will be having input in the rest of the operation but it's not his to manage.
Champions League basketball next season if it goes ahead, hopefully that may well mean we see another couple of high quality GB players in the league, although the way he side-stepped the Ovie question I'm guessing he won't be one of them.
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Post by notoriousbigz on Apr 29, 2020 19:04:47 GMT
Hes made mistakes down the years, but fair play to Vince hes kept the franchise going in some guise or other and it seems hes managed to get some big time investors involved here.
Genuinely do hope it works out for him. Big investment in LDN and Plymouth, teams owning their own arenas in Leicester and Newcastle - dare I ask if British basketball is now making significant strides back toward the glory days? May be getting ahead of myself but its not a bad start!
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Post by interestedridersfan on Apr 29, 2020 19:21:59 GMT
I want to get excited for BBL but I can't in the current situation
It's an odd time to invest in anything involving crowds?
I imagine they haven't actually paid any money?
But are there when needed to start again.
Or maybe theyve theyve covered a few debts
Or is it a new club altogether and the old Lions have gone alongwith their debts?
And they've just appointed Vince to work for them and given him some shares
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Post by interestedridersfan on Apr 29, 2020 20:18:31 GMT
777part.com/our-portfolio/These are the new owners It's an out of character investment for them Take a look at their current portfolio Well done Vince regardless. He's probably worked very hard to get these guys first of all interested and then to make it happen
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Post by Deleted on Apr 29, 2020 20:39:16 GMT
I find it difficult to wish Vince well in any kind of business dealings, but it must've taken a lot for him to give up control after all these years and remain involved as an employee.
As for the new owners, they seem like serious investors so hopefully they'll realise there's little profit to be made in the short term and are in it for the longer haul.
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Post by faz on Apr 29, 2020 20:54:14 GMT
I doff my hat to Vince putting the growth of the club above his position. Hope it works for all.
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Post by youngrocks on Apr 29, 2020 21:04:46 GMT
Hes made mistakes down the years, but fair play to Vince hes kept the franchise going in some guise or other and it seems hes managed to get some big time investors involved here. Genuinely do hope it works out for him. Big investment in LDN and Plymouth, teams owning their own arenas in Leicester and Newcastle - dare I ask if British basketball is now making significant strides back toward the glory days? May be getting ahead of myself but its not a bad start! Now now bigz. Some of the british basketball fraternity won't like hearing that. Interesting with the past chat of lions debt could a new ownership/change of ownership or new club same name situation be happening? Vince if he was a cat can't have many lifes yet. |
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Post by Moose on Apr 29, 2020 21:09:38 GMT
Does this mean that London Lions is one of their "esoteric" acquisitions as per their website mission statement?
It also doesn't cover the seven different industry investments that they claim to be interested in - "Insurance, consumer finance, litigation finance, software, aviation, and energy/infrastructure" which boggles me a little...
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Post by saintpat on Apr 29, 2020 21:19:55 GMT
Does this mean that London Lions is one of their "esoteric" acquisitions as per their website mission statement? It also doesn't cover the seven different industry investments that they claim to be interested in - "Insurance, consumer finance, litigation finance, software, aviation, and energy/infrastructure" which boggles me a little... Apparently they already have a sporting interest with a Spanish football club, so it's not a completely new route for them. |
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Post by Tiktok on Apr 29, 2020 21:26:32 GMT
Take a deeper look at their portfolio. And their team. Dodgy.
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Post by Deleted on Apr 29, 2020 22:06:41 GMT
Does this mean that London Lions is one of their "esoteric" acquisitions as per their website mission statement? It also doesn't cover the seven different industry investments that they claim to be interested in - "Insurance, consumer finance, litigation finance, software, aviation, and energy/infrastructure" which boggles me a little... Apparently they already have a sporting interest with a Spanish football club, so it's not a completely new route for them. They also hold the rights for the Brazilian League |
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Post by docker on Apr 30, 2020 9:06:43 GMT
Good luck to the Lions with this new chapter. It looks like their new owners know their way around broadcast rights which has to be good news for the BBL as a whole: www.globalsportsrm.com/sobre-gsrm?lang=en |
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Post by gardielo on Apr 30, 2020 9:49:54 GMT
Let’s wait and see how this evolves. American money came into Worthing back in the day and that turned out to be a disaster. And investment groups represent investors who expect a return on capital employed.
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Post by LTFan on Apr 30, 2020 11:50:49 GMT
Looks like good news for Lions, and hopefully in turn for the BBL too.
I give a lot of respect to Vince, first for getting this deal done, and second for relinquishing his conbasketball kiting stake in the organisation after so many years. Both must have been difficult to do, but it looks like he's seeing the bigger picture and doing what he believes is right for the future of the London Lions.
I'm really glad to still see him involved, I think there's still real value in having someone with as much experience and knowledge of British basketball involved on the ground along with the big-shot American investors in the background.
I agree it doesn't look like a typical acquisition for 777 Partners (although they do have a few sports related interests), but that's not necessarily a bad thing, particularly if this is a bit of a personal interest investment by someone somewhere. They could mean they'll be a bit more forgiving in seeing a quick return. Looking at their portfolio I also suspect it's one of their smaller investments, which again could be a good thing.
In one respect it's the perfect timing for such a large investment... all of British basketball is going to need whatever money it can get right now. But in another respect it's not great. What is the BBL, and even the FIBA Basketball Champions League, going to look like for the 2020/21 season? Surely profits are going to be well below what they would typically have been in previous seasons. I hope 777 Partners have acknowledged that and are willing to play the long game.
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Post by saintpat on Apr 30, 2020 11:51:11 GMT
Looks like the comment on Riders page about Vince relinquishing control was spot on, just a little pre-emptive, hence it was removed. Clearly this story has been waiting to break for some time.
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Post by massiveridersfan on Apr 30, 2020 12:10:48 GMT
Hes made mistakes down the years, but fair play to Vince hes kept the franchise going in some guise or other and it seems hes managed to get some big time investors involved here. Genuinely do hope it works out for him. Big investment in LDN and Plymouth, teams owning their own arenas in Leicester and Newcastle - dare I ask if British basketball is now making significant strides back toward the glory days? May be getting ahead of myself but its not a bad start! I thought the BBL and several clubs were making very good steady progress to develop the league but I'm afraid that Covid19 has set that back massively. Honestly, if the BBL (and most of all, Riders) can survive that'll be enough for me atm because I fear it may not. |
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Post by GetREAL on Apr 30, 2020 12:25:02 GMT
Looks like good news for Lions, and hopefully in turn for the BBL too. I give a lot of respect to Vince, first for getting this deal done, and second for relinquishing his conyou handsom maning stake in the organisation after so many years. Both must have been difficult to do, but it looks like he's seeing the bigger picture and doing what he believes is right for the future of the London Lions. I'm really glad to still see him involved, I think there's still real value in having someone with as much experience and knowledge of British basketball involved on the ground along with the big-shot American investors in the background. I agree it doesn't look like a typical acquisition for 777 Partners (although they do have a few sports related interests), but that's not necessarily a bad thing, particularly if this is a bit of a personal interest investment by someone somewhere. They could mean they'll be a bit more forgiving in seeing a quick return. Looking at their portfolio I also suspect it's one of their smaller investments, which again could be a good thing. In one respect it's the perfect timing for such a large investment... all of British basketball is going to need whatever money it can get right now. But in another respect it's not great. What is the BBL, and even the FIBA Basketball Champions League, going to look like for the 2020/21 season? Surely profits are going to be well below what they would typically have been in previous seasons. I hope 777 Partners have acknowledged that and are willing to play the long game. Big Shot American investors? Not too sure about that as they look like a "bucket shop" and the portfolio companies seems like fronts for money laundering. Lots of that goes on in South Florida. Investment makes no sense when one could buy any number of European clubs with better fanbases, track record etc. This does not stack up. Can't see them paying anything for Lions let alone stumping up big money to compete in Europe two years from now. We've had a fair bit of American chancers looking into British basketball and none have come to fruition, let alone become successful. This won't be any different. |
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Post by Deleted on Apr 30, 2020 12:43:57 GMT
I take it you've got some proof before you start lobbing money laundering accusations around. Even unregistered users can be sued for libel, you're not as anonymous as you think.
Why Lions rather than a big European club? Because, if they believe they can make it big in London, the risk-to-reward ratio is much more favourable. And it's London. Whether it's logical or not, American investors are attracted to our capital.
But yes, there's still a chance that it'll be a disaster. And Vince & Lions will rock up at sportscentre somewhere in the south east.
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Post by saintpat on Apr 30, 2020 13:13:39 GMT
I'm rather doubting that the new owners paid anything for the club, they've taken over, given Vince a percentage of the club & a contract & that's it.
The money they'll spend to get Lions into Europe will be relatively small at least to begin with. They're obviously going to spend on back room staff to build the club but again it'll be relatively small figures in the sort of figures they deal with.
One of their partners is a Sports media company, if they can promote properly Lions could increase spectator numbers, remembering we were seeing crowds around 2000 already.
There's definitely far more positives than negatives at the moment.
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Post by interestedridersfan on Apr 30, 2020 13:48:45 GMT
I'm rather doubting that the new owners paid anything for the club, they've taken over, given Vince a percentage of the club & a contract & that's it. The money they'll spend to get Lions into Europe will be relatively small at least to begin with. They're obviously going to spend on back room staff to build the club but again it'll be relatively small figures in the sort of figures they deal with. One of their partners is a Sports media company, if they can promote properly Lions could increase spectator numbers, remembering we were seeing crowds around 2000 already. There's definitely far more positives than negatives at the moment. They've took on a liability not an asset. They can't have paid anything for a club with big debt. Maybe the creditors will be more patient for bills to be paid with new owners on board |
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Post by saintpat on Apr 30, 2020 14:25:11 GMT
Devil is in the detail. Have they bought the franchise & set up a new company to run it? Or have they taken over the existing company who were running the franchise?
What was the total of Lions liabilities? Was there a massive debt or is the 'massive debt' really quite small but seems massive in British basketball terms?
It's all guesswork! Perhaps there will be more detail when it's officially announced as opposed to a taped phone conversation.
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Post by LTFan on Apr 30, 2020 14:35:47 GMT
Looks like good news for Lions, and hopefully in turn for the BBL too. I give a lot of respect to Vince, first for getting this deal done, and second for relinquishing his conyou handsom maning stake in the organisation after so many years. Both must have been difficult to do, but it looks like he's seeing the bigger picture and doing what he believes is right for the future of the London Lions. I'm really glad to still see him involved, I think there's still real value in having someone with as much experience and knowledge of British basketball involved on the ground along with the big-shot American investors in the background. I agree it doesn't look like a typical acquisition for 777 Partners (although they do have a few sports related interests), but that's not necessarily a bad thing, particularly if this is a bit of a personal interest investment by someone somewhere. They could mean they'll be a bit more forgiving in seeing a quick return. Looking at their portfolio I also suspect it's one of their smaller investments, which again could be a good thing. In one respect it's the perfect timing for such a large investment... all of British basketball is going to need whatever money it can get right now. But in another respect it's not great. What is the BBL, and even the FIBA Basketball Champions League, going to look like for the 2020/21 season? Surely profits are going to be well below what they would typically have been in previous seasons. I hope 777 Partners have acknowledged that and are willing to play the long game. Big Shot American investors? Not too sure about that as they look like a "bucket shop" and the portfolio companies seems like fronts for money laundering. Lots of that goes on in South Florida. With a verified $3 billion in assets under their management, and ownership of a major Spanish First Division football team amongst other things, I'd say that's fairly big shot. At least by the standards of anyone showing an interest in British basketball. |
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