BBA offer 40% stake in franchise for $5m – CNBC

The British Basketball Association has been featured in an online article on CNBC (Consumer News and Business Channel) with the focus being on potential investment opportunities in the league.

During the piece, BBA Founder, Chief Executive and Commissioner, Ron Scott, spoke of the need for financial stability in the league and this was explained by CNBC as coming in the form of a $5 million investment from investors or a group of investors, which would give them a 40% stake in one of the founding eight franchises, with venues for the games being held at an arena of 5000+ capacity. Those venues will be rented. Major decisions made by those at the club would be controlled, to a degree, by the league.

Said Scott “An investor would have power without control. You can bring in a player or coach, but the league would have say over it.”

Robert Boland, academic chair of the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management at the New York University is positive about the league and it’s plans, agreeing with Commissioner Scott on the need for proper finances to be in place, in order to avoid the pitfalls that other leagues have experienced.

“The greatest danger to a start-up league is that one or two owners would have the resources to get better players, and that could just blow the other teams up financially as they tried to keep pace,” Boland advised as he spoke to CNBC.com.”

The article also touched on Scott’s desire for the BBA to focus on British players over imports, with the BBA likely to reject any calls from a franchise owner for college players to be brought in.

To read the full article, visit CNBC.com