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American investment could make ‘sleeping giant’ Britain a hoops heavyweight – Reuters.com

LONDON, March 18 (Reuters) – British basketball is a “sleeping giant” with potential to become the biggest market outside of the NBA, according to the vice president of an American investment company pumping seven million pounds ($9.22 million) into the sport.

After decades of false dawns, under-investment and untapped potential, Miami-based 777 Partners believe its partnership can finally raise the profile of a sport which in terms of participation is second only to soccer in the UK.

In December, 777 Partners took a 45% stake in the British Basketball League, setting out an ambition to close the gap and eventually overtake professional leagues in Spain and Australia.

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“We generally think the commerciality of basketball outside of the NBA hasn’t caught up internationally. And so we think there’s a massive opportunity,” Lenz Balan, Vice President of 777, told Reuters this week.

“It’s a massive market, a sleeping giant and we’re sort of heartened by watching other groups do this successfully, whether it’s the NBL in Australia or the Bundesliga.”

The British sports landscape is dominated by soccer, rugby and cricket, leaving basketball scrapping for crumbs.

While there is a huge following for NBA in the UK and the cheap-to-play sport is acknowledged as a catalyst for good amongst disadvantaged populations, the 10-franchise British Basketball League receives little exposure.

Balan thinks that is down to a lack of investment, not appetite, and that a new generation of fans and talent can be hooked by a thriving domestic league if marketed properly.

“I think there’s certainly room for another sport. …….

Source: https://www.reuters.com/lifestyle/sports/american-investment-could-make-sleeping-giant-britain-hoops-heavyweight-2022-03-18/

LONDON, March 18 (Reuters) – British basketball is a “sleeping giant” with potential to become the biggest market outside of the NBA, according to the vice president of an American investment company pumping seven million pounds ($9.22 million) into the sport.

After decades of false dawns, under-investment and untappe…….

LONDON, March 18 (Reuters) – British basketball is a “sleeping giant” with potential to become the biggest market outside of the NBA, according to the vice president of an American investment company pumping seven million pounds ($9.22 million) into the sport.

After decades of false dawns, under-investment and untappe…….

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