By Cesare Milanti / info@eurohoops.net
The report about an investigation by the BBL into the ownership of the London Lions is denied by the 777 Partners, the financial entity that owns the club and also 45% of the British Basketball League (BBL).
Per their response: “777 Partners can categorically confirm that there is no investigation into its ownership of the London Lions and that these rumors are completely unfounded”.
Moreover, the BBL itself denied the allegations as well, explaining to Eurohoops it was a routine check.
“The British Basketball League’s Board of Directors, as part of their fiduciary duties to the league, regularly review the health of its clubs. We don’t comment on specific reviews, but we would like to make clear in this instance that Stuart Hodge’s reporting of an investigation is wholly incorrect. A review of any one, or several clubs, is not extraordinary and is a measure in place to safeguard the financial sustainability of the league and its clubs, and ensure that the league and clubs are in a great position to meet their aspirations of growth”, BBL’s statement to Eurohoops clarifies, without denying that a review might have been conducted.
It all started with an article that appeared in the Norwegian magazine Josimar Football which revealed allegations against the 777 Partners Group, owners of several football clubs around the world and of the BKT EuroCup and BBL basketball club London Lions.
Per Scottish journalist Stuart Hodge, the British Basketball League is reportedly conducting an investigation to ascertain whether the London Lions’ owners, who own both the club and 45% of the whole league itself, are actually fit to run the club, a report which is denied.
Following Josimar’s article, 777 Partners claimed that the allegations, which stated their companies were involved in kidnapping, predatory lending, and fraud as well as detailing drug charges which were brought against 777 founder Josh Wander, are “inaccurate and defamatory”.
Moreover, Stuart Hodge published on its X’s thread what an anonymous BBL team’s owner told him about this. “The British Basketball League community is filled with children and young, sometimes vulnerable, people. It’s paramount that they feel safe and the BBL’s investigation into 777’s ownership of the Lions is a necessary step in ensuring that safety”, is written.
“The allegations which have sprung to light are massively concerning and we have to be sure that the league’s clubs are being run by individuals and groups who understand their responsibility to those communities, and to ensure the necessary safeguards are in place”, was also stated.
🚨EXCLUSIVE🚨
Multiple sources tell me @LondonLions are being investigated by @BBLofficial to ascertain whether owners, 777 Partners, are fit to run the club.
It comes after an explosive article in @JosimarFotball filled with alarming and, frankly, astonishing allegations.
— Stuart Hodge (@Hodgeythehack) August 11, 2023
Both BBL and 777 Partners denied the investigation
However, 777 Partners deny that there’s any kind of ongoing investigation with the following press release.
“777 Partners can categorically confirm that there is no investigation into its ownership of the London Lions, and that these rumors are completely unfounded. We have a brilliant working relationship with the British Basketball League and both parties share the same objective in terms of bringing the sport to new heights in the UK. Our commitment to this mission is unwavering, having invested more into the sport than anyone else in its history, amounting to tens of millions of pounds. This financing has seen the dawn of a new era for British basketball, with record crowds descending upon BBL and WBBL games and The Lions becoming the first-ever British side to qualify for the playoff rounds of the EuroCup”.
“777 serves as the only funding partner investing millions into women’s basketball in the UK, and is proud to support a side that is now positioned as one of the most dominant teams in British sport, having recorded back-to-back domestic clean sweeps and going on an unprecedented 52-game unbeaten streak. This momentum is now continuing into the new season, with the Lions becoming the first-ever British team to take part in qualifiers for the EuroLeague, further helping to put UK basketball on the map”.
“We are not only fully committed to the Lions as a club but also investing in the communities in which it resides. From delivering a vibrant new basketball court to a community in London’s worst-hit borough for child poverty and providing various grassroots coaching activations across the capital, to creating a never-before-seen youth team structure and allowing aspiring coaches to pursue a career in the sport, our commitment to having an impact on and off the court is unwavering. We are working tirelessly alongside the BBL on implementing an infrastructure which safeguards the longevity and success of the sport in the UK and is now extremely excited for the 2023/24 season, continuing to break records on the domestic and European stages”.
PHOTO CREDIT: BBL