By Eurohoops team/ info@eurohoops.net
London Lions have officially been acquired by Tesonet, a tech hub and shareholder of Euroleague club Zalgiris Kaunas.
The club confirmed the opening of a new chapter, stating that Zalgiris will share valuable experience with the team.
As stated in the Lions’ press release, recognizing the club’s previous financial challenges, the new investment is set to stabilize and strengthen the club’s financial position.
“This is an exciting moment for the club. It is the start of a new journey that will benefit the club, its players, fans, and all basketball stakeholders. We approach the new season not only with financial security but, more importantly, with the ability to launch a series of new sustainability practices that will enhance our performance in the league and beyond, in the global basketball arena,” said Lenz C. Balan, the President of the London Lions.
The new General Manager of the club will be Iason Tranos, who continues working on building a roster along with head coach Petar Bozic.
“We have a late start, but we are proud to have built a basketball culture and a burgeoning fan base that means players want to come to the organization. The support from Tesonet and Zalgiris Group only adds to the attractiveness of playing for London. The commitment from the new owners signifies a bright future for the club, as they aim to attract top talent and foster a winning environment,” said Tranos, the new General Manager of the London Lions.