By Eurohoops team/ info@eurohoops.net
AEK Athens president Makis Aggelopoulos commented on FIBA entering into a partnership with American sports and media investors group GCBH LP to boost the Basketball Champions League.
“A small revolution begins. It’s the beginning of the end for the schism that exists in basketball for many years. It’s a very positive development,” Aggelopoulos said to Greek radio station Sport Fm. “The element that makes it different is that it is a partial privatization of the Basketball Champions League since the sponsors have received a large part of the capital share. I don’t think there’s a precedent where FIBA has given the right to private investors to participate in the capital privatization ”
The new partnership agreement between FIBA and GCBH LP creates a new entity called “FIBA ClubCo” that will enable FIBA and GCBH LP to jointly hold the shareholding of the Basketball Champions League. “GCBH brings important financial capital and resources as well as expertise in the fields of media, broadcasting, digital rights, sports commercialization, sponsorship and growth investing,” FIBA mentioned in the announcement of the deal.
“If we look at it with a two-year, three-year projection, revenues can be increased tenfold,” Aggelopoulos said. “Besides the fact that someone puts his own money, he will obviously look to the benefits of his investment and will have the capability to bring other investors and boost the league. Basketball Champions League is the biggest competition in Europe and respects the principals of all national leagues. Through it, there will be a boost for the national leagues as well.”