The British Basketball League (BBL) has recently announced a new partnership with a Miami-based investment firm, 777 Partners. The firm has invested roughly $9m in exchange for a hefty stake in the BBL of 45%.
Sir Rodney Walker, the Chairman of the British Basketball League, has commented that he could not be more excited about the partnership. He sees basketball as a sport with the ability to transcend cultures, economic divides and social divides – something that is beloved by people around the world. Walker believes the goal of the agreement is to expand basketball’s reach in the UK, an area where it has not traditionally been an overly popular sport.
What does the plan include?
How does the BBL plan to use the millions they so recently received? The league has announced that it is committed to “elevate the quality of play” as well as investing in refereeing and official development as it seeks to propel itself forward. Investing in community grassroots in order to refine the game’s structure in the UK is also a primary goal. More specifically, however, the plan has a lot of information to unpack.
Digital transformation seems to be an important goal, with the BBL hoping to reach new audiences online. This is combined with a focus on creating clubs with content, operational and marketing initiatives to encourage new teams to join the League.
In addition to the above tech-focused goals, the BBL also plans to spend some of the funds reaching out to the humans that make the league great. This includes working with officials and referees both on the court as well as off of it to develop their skills. Game-day delivery teams will also be upskilled.
Players are also included in the new plan. They will receive broader support to develop both their basketball goals and more general career aspirations, including additional support for female players. The league will also improve the investments to player onboarding and athlete welfare.
Finally, resources are being directed to the development of clubs. This includes working closely with the individuals running them as well as within their respective communities to ensure that the investment is well-spent and effectively growing the sport.
Reactions to the news
The reaction to the news of the plan has been largely positive, and no one is as excited as the teams behind 777 Partners and the BBL. Joshua Wander, serving as a managing partner at 777 Partners, was especially thrilled with the development. Wander states that: “Basketball is undoubtedly a disruptive force to the institutions that dominate UK sport… We are determined to work closely alongside the clubs and within their respective communities to ensure our investment serves to incubate the sport more broadly.”
The statement aligns with the information coming from the BBL about their goals for the future, indicating that the organizations may present a united front as they work to expand basketball’s reach in the UK.
