American-based Sherwood Family Investment Office, led by chief executive officer Ned Sherwood and president Ben Pierson, has acquired the Manchester franchise for both the men and women’s professional basketball teams in the city.
With Basketball League Limited (BLL) – the company that formerly had the professional league license in the UK to run the BBL before it was revoked – owning the existing Manchester Giants brand, the Manchester franchise will likely be a different entity under a new brand as it competes in the new Super League Basketball (SLB). The new owners add that the women’s team will be “continuing in their elite competition.”
Sherwood started his career at AEA Investors, one of the first U.S. private equity firms formed. He subsequently founded and managed private equity firm ZS Fund LP for more than 40 years, serving today as Chairman Emeritus. The family office invests globally in a wide range of projects, bringing a long-term partnership focus and a creative, problem-solving mindset.
“The new energy of the league is palpable. We are thrilled to be a part of this exciting turning point in professional basketball in Great Britain.” said Sherwood. “The goal over my career has been to find or build high-quality businesses with top-level management teams. As partners, we work tirelessly to help our businesses achieve long-term success. We look forward to developing a sustainable, elite franchise for Manchester.”
“Manchester is a world-class city for sport and culture. We aim to bring the Manchester franchise back to the level it belongs – competing for trophies for the city. Basketball in Manchester is an integral part of schools, youth, and culture. It is imperative that we restore stability throughout the franchise, and grow our partnerships throughout the community. We look forward to delivering on this through our actions, not just our words,” added Pierson.
The new franchise, led by Pierson, is pleased to welcome back the club’s former operation’s manager and highly decorated women’s player Dominique Allen, in a promoted role as head of operations.
“I’m really excited to be part of the new franchise and looking forward to its successful evolution as a top-tier club. We would like to thank the fans and partners, including our educational partner MMU, for their patience as we look forward to a new era for basketball in Manchester,” she said.
More details on Manchester and the new season of Super League Basketball will be announced in the coming days.
