LONDON : London Lions can become a global basketball brand and compete against Europe’s elite in a state-of-the-art arena, according to the club’s ambitious chief executive Lenz Balan.
The club was saved from collapse when it was bought by Tesonet last August and plans for a purpose-built stadium in the capital have been backed by London’s mayor.
There have been many false dawns in British basketball, and London in particular epitomises the sport’s struggle to establish itself as a mainstream spectator sport in the UK.
Last season London Lions made waves across the continent and beyond when its women’s team became the first English club to win a major European trophy, beating Besiktas in the EuroCup final on a momentous night at London’s Copperbox Arena.
The men’s team also reached the semi-finals of the EuroCup, losing to Paris. Yet a matter of weeks later the club was in administration after American owners 777 Partners, who acquired it in 2020, hit financial trouble.
Lithuanian tech firm Tesonet stepped in to save the day and while there is no European competition for the Lions this year, Balan believes the future is bright, not just for the Lions but also for the sport in Britain.
“This time last year I was basically in tears every other day,” Balan, a former vice-president of 777 but who has been retained as CEO, told Reuters in an interview.
“For everybody it was emotional. Those women deserved to keep going. But the financial realities wouldn’t allow for that and ultimately didn’t allow for the men’s team to compete in Europe either. But what we did learn was that you can have a team with British players in significant roles in the team competing at the very top levels of Europe.”
Balan says a purpose-built stadium in London owned by the club will allow it the platform to compete with Europe’s top clubs and even attract players, and fans, from the NBA.
“I think it’s absolutely critical for a club,” Balan said. “A stadium means you are able to build a sustainable business model. Without it, you can’t. That’s why so many clubs have failed and that’s why clubs like Newcastle and Leicester have been able to succeed over time.
“Having your own arena allows you to create a bespoke, high-quality experience. The goal of this venue is for it to be indistinguishable from an elite NBA venue.”
Balan is adamant that Super League Basketball, launched last year after the British Basketball League, 45 per cent owned by 777, lost its license, can attract top global talent and provide a domestic pathway for home-grown talent.
“Interest in the UK market, both from the NBA and from EuroLeague is sort of unprecedented,” Balan said. “They’ve all identified the UK as a really critical and important market.
“With this tailwind, combined with a set of investors who have deep pockets, have connections, have the network to do this, you have a club-owned league that is driving forward.”
London Lions are top of the men’s standings and Balan is confident the club will return to Europe next season, with the women’s team perhaps the season after.
Many wonder why London remains a basketball backwater, but Balan says with a purpose-built arena in the offing, the potential to rival the likes of Real Madrid, Olympiacos and Barcelona is no longer a pipe dream.
“Our ambition is to be a global basketball brand,” he said. “There’s no reason why kids in Brooklyn or kids in South Carolina won’t be wearing London Lions jerseys or caps.”
