Lions New owners/investment

The BBL would have to agree any transfer of a franchise from one company to another
while they've allowed that kind of thing to happen, they are unlikely to.do it unless lions are on the brink of closure which the new inverters could clearly prevent.
Lions lease on the Copper box would also end with a change of company. And I imagine they'd still want anything they're owed before Lions could play there, which would (at least partially) defeat the object.

I'd imagine the BBL would allow a new company if it meant keeping a club in London. And it might be be beneficial for a new company to renegotiate the lease on the Box anyway & whilst in an ideal world, they'd get paid any money owing from a previous company, it'd be better to be bringing money in from another source than not bringing any money in at all. (Although I do get the more than occassional impression that the Copper Box would be quite happy if all they had to do was run the gym!)

Verified by Bloomberg, but yes that is an American website. But I'll concede regarding the ownership of a major Spanish First Division football team. Despite it being claimed I can't find anything online confirming it. The closest I can find is that they've recently invested $10 million in soccer (football) streaming service 'Fanatiz' - which holds LaLiga and Series A broadcast rights in North and South America.

EDIT: Found it, they own a share (5.5% it looks like) in Sevilla FC, who play in LaLiga.

What, so it's all a lie??? They haven't taken over the club? Vince isn't going to be coach? Perhaps they've never heard of Vince & he has just managed to put London Lions on their website without them realising??
Or perhaps 777 don't actually exist, Vince has simply made up a company, put a website together, made it so believable that Bloomberg really think it exists.

New company was created at Companies House on 30th March called London Lions Group Limited: beta.companieshouse.gov.uk/company/12538101. Directors include Vince and at least one guy from board of 777.

Ok, I guess the good news is if you happen to be completely wrong, you can just post under a different name.

No one knows how it'll pan out but I can see why a team in the capital with a venue like the Copperbox would be attractive to an American investor

With no disrespect intended, if they want to be competing in too level Europe then i suspect a new coach will be required

I have a bit of experience within the industry of finance and sport and can easily recognise American investor hype more than most on this board. I am also objective as I sit outside the BBL lovefest. My life support comment is accurate, no one in global basketball or media in the UK cares about British basketball. The fact that every time an American investor comes round everyone gets wet at the prospect of being bailed out by dumb money is lazy. Don't see Kroenke or the Fenway boys chompin at the bit to invest do we? And they have basketball connections. Until British money stumps up real cash, its beyond farcical to think that anyone else will in any meaningful way. Get Real davef!

Christ hes given himself a catchphrase!

Is there any possibility that you could not mention The Plague in any of your many, many highly interesting posts? 

Clearly these Yanks can sink a few quid into Lions in the hope they'll make them a success. I'm interested in how it's being structured because if they've gone down the new limited company conyou handsom maning everything route, they may struggle to get imports on the court next season. There's also a risk that the Copperbox will tell them to FRO if they haven't been paid.  I suspect the old company is now a wholly owned subsidiary of the old one which would see them carry some debt but allow them to bring in some decent Yanks when we get going again.

And I now own the 90,000th post on the new Bev Only 337,000 to go

So this would suggest they haven't invested in the existing club but have created a new club?

Which might suggest they or Vince don't intend to pay any of the debts Lions have built up in recent years?

If a club tried to do that in other pro sports they would be demoted numerous divisions and they would still have to honour their debts to players etc

Maybe I am missing something?






One thing for sure though is the US guys haven't invested in the existing business.

They've created a new business. One guy that was discussed a couple of months ago - Peter Sugarman is a director and shareholder in the new business. He has 40 plus other businesses (mostly involved in investment by the looks of it)

I'm going to guess it's him and not Vince who has attracted the US guys to get involved one way or another

I assume the old business still owes the Copper Box a lot of money

Obviously we have different views of success and given your relationship with Eagles, maybe you're the one that cannot be objective. From the outside looking in, yes, the large events appear successful, but a few events a year do not make the league a success. The BBL has engaged in years of window dressing, and spin which paints a far different picture than what's probably going on before the pandemic. You point out the fact that clubs have finally removed lines off the court as an achievement? Even more ludicrous is the fact that I'm sure BBL clubs were offered that same financial relief as any business effected by the pandemic and the BBL still goes back to government asking for an additional handout?? Why not get the billionaire in Bristol or the new Turkish gent to invest some funds to keep the league afloat.

You failed to mentioned the numerous clubs that have failed previous seasons, that Manchester is lucky to get a few hundred per game and London pre Ovie Soko, had probably less that 1000 on many nights. Some of other clubs you mentioned, too small to really matter. Newcastle and Leicester, however, good job, no qualms there but that is 2 clubs!! Media coverage as in broadcast, not print media. Are you going to tell me that none of the TV networks are interesting in broadcasting basketball? We both know that's not true, they're not interested in broadcasting BBL basketball. One would have thought that Sky, which holds the NBA rights and now owned by Americans would be looking for additional domestic basketball programming to boost their NBA product. 

As Alton Byrd said, the league needs a leader. Sorry, Sir Rodney doesn't inspire me to believe that BBL basketball is entering into a new era in this country. It needs the type of leader that can make tough decisions like not letting crap clubs into the league. A leader that can provide structure that will make the league attractive to real investors, not just fanciful American punters who are more interested in their ego begin stroked than helping build the game. Everyone on this board knows that basketball can be much more successful than it is, but some people don't want to look in the mirror and think outside the box. Until that changes, basketball will remain in the dire state it is both at the pro level and at the governing body level. We're British, so settling for mediocrity is sometimes better than going out on a limb and taking risk. I've had my share of run ins with the Yanks, some of them way to chatty and overbearing. That said, when it comes to the business of sport, they know what they're doing for the most part. Convince Kroenke, Fenway and those type of Yanks, and you know you have something worth investing in, but coming on here praising 777, with no credible sports experience and in my opinion a dodgy portfolio, is a bit rich. 

This pandemic will end, and life will return to normal, but it will force change across all of sport with top flight football being less impacted. In the case of basketball, maybe this is the shakeup it needs to get its act together or perish.