Miami-based investment firm 777 Partners has told London Lions’ women’s basketball team that it will not be competing in Europe next season, despite the team becoming the first British outfit to reach the last four of the EuroCup Women competition this campaign.
The decision, which has not yet been publicly announced, will raise fresh questions about 777’s ability to fund its proposed takeover of Everton.
777 bought the Lions in 2020 and one year later bought a 45 per cent stake in the British Basketball League, too. Under its ownership, the team has dominated men’s and women’s basketball in the UK, with the women’s team being almost untouchable in domestic competition.
Similar success against the best teams in Europe, however, had been elusive until this season, with the Lions winning all 12 games they have played so far in the EuroCup to set up a semi-final against Reyer Venezia. The first leg is in Italy on Wednesday evening, with the return fixture in London next Tuesday.
But even if the Lions make the final of European basketball’s second tier competition and win that match too, becoming the first British team to claim a European title, they already know they will not be able to defend it.
In a memo sent to players and staff, which The Athletic has seen, the…
