The British Basketball League (BBL) has announced it is exploring offers from prospective third-party investors who are interested in investing in the Manchester Giants and the wider Manchester basketball community.
The BBL is currently in the process of engaging with third party investors and is “inviting offers from potential buyers who match the ambition, growth and professionalism of the league.”
The BBL says it is seeking investment from the right strategic partner, who can help redevelop the Giants brand in the long term both on and off the court and develop a world-class operation that can compete at the very top of the British Basketball League and in European competition. Miami-based investment firm 777 Partners backed the league with £7m in December 2021, in return for a 45 per cent stake.
The BBL’s CEO, Aaron Radin, said: “Manchester has an illustrious history within the British Basketball League, making the Manchester Giants an extremely attractive proposition for potential third party investors. British Basketball is experiencing its most exciting period of growth at present and is at a critical point in its history as momentum continues to grow.
“We want to become one of the most competitive and exciting basketball leagues in the world and I look forward to identifying and supporting the right investor to take the Manchester Giants forward into a revolutionary new era, setting up the club to be as successful as possible.”
The current Manchester Giants franchise was formed in 2011 and admitted to the league a year later. They play their home games at the National Basketball Performance Centre.
The BBL has experienced significant growth in the last 12 months, with record viewership figures achieved on the court, a host of exciting commercial partnerships secured and multiple senior hires joining the organisation. The sport receives regular national media coverage and is broadcast live on Sky Sports, with viewership and fan interest in the sport expected to continue to grow.
