By Eurohoops team / info@eurohoops.net
Going very close to disappearing from the European scene in disappointing fashion, the London Lions have now more than one reason to survive despite not being confirmed in the 2024-25 BKT EuroCup.
As reported by the English portal City AM, the reigning British Basketball League champions have been bought out of administration by the Lithuanian group Tesonet and the EuroLeague historic shareholder Zalgiris Kaunas.
Competing all the way to the 2023-24 BKT EuroCup Semi-Finals, where they lost to Tuomas Iisalo’s Paris Basketball, the London Lions were on the verge of extinction following the collapse of the club’s owners’ empire, 777 Partners.
The news came from Hudson Weir, who managed to complete the sale. “The new ownership is expected to bring fresh energy and resources to the club, ensuring that the London Lions continue to thrive due to the outcome of this case, as the London Lions are more than just a basketball team”, the company’s joint administrator Hasib Howlader said.
“They are a symbol of community pride and sporting excellence. With a history that spans nearly five decades and a fan base that is deeply passionate, we are confident that under the new ownership, the London Lions will continue to scale new heights”, he continued.
PHOTO CREDIT: BKT EuroCup