Basketball: investment firm 777 Partners acquires 45% of the British Basketball League (BBL)

777 Partners, an investment firm based in Miami (Florida, USA), has acquired a 45% stake in the British Basketball League (BBL) for an investment of £7m (€8.2m), announced the British professional basketball league on 20/12/2021. "The BBL is targeting at least four new, high-quality franchises to be added to the League within the next five years (10 in 2021-22)."

"Central to the League's plan is the creation of a significantly enhanced leadership team - including the appointment of a new CEO. There will also be major investment in a 'digital transformation' strategy. Further recruitment, building a sophisticated data infrastructure and the adaption of new technologies are all also key to the deployment of investment. Funds will also drive the introduction of new in-stadia technologies to improve the fan experience and broadcast product. A significant area of future League expenditure will be dedicated to creating the infrastructure to support clubs with operational, content and marketing initiatives. This initial investment is designed to act as a catalyst to trigger further…