London Lions ownership group refutes investigation reports / News - Basketnews.com

777 Partners, the American-based investment group that owns the London Lions and 45% of the British League has officially dispersed reports about an ongoing investigation into its activities and practices.

Credit: Euroleague Basketball via Getty Images Credit Euroleague Basketball via Getty Images

A report from British journalistStuart Hodge informed that the London Lions' investment group, American-based 777 Partners, are currently being investigated by the British Basketball League (BBL).

The report was largely based on an article in Josimar Football that cited various points of reference, including US court documents and witness statements, to support that 777 affiliated companies have been involved in activities such as kidnapping, predatory lending, fraud, and drug-related charges. The founder of 777 Partners, Josh Wander, reportedly faced drug charges to which he pleaded no contest.

777 Partners, which holds ownership of the Lions as well as a 45% stake in the BBL, vehemently denied the allegations presented in the article. 777 Partners first dismissed the assertions as "inaccurate and defamatory."

The group later issued an official announcement, arguing there's "no investigation into its ownership of the London Lions", and that "these rumors are completely unfounded."

"We have a brilliant working relationship with the British Basketball League and both parties share the same objective in terms of bringing the sport to new heights in the UK," the release reads.

The group chose to list their efforts and expenditures to develop British basketball and the Lions, mentioning that the total investment has amounted to "tens of millions of pounds."

"We are not only fully committed to the Lions as a club, but also investing in the communities in which it resides. From delivering a vibrant new basketball court to a community in London's worst-hit borough for child poverty and providing various grassroots coaching activations across the capital, to creating a never-before-seen youth team structure and allowing aspiring coaches to pursue a career in the sport, our commitment to having an impact on and off the court is unwavering," the announcement continues.

"We are working tirelessly alongside the BBL on implementing an infrastructure which safeguards the longevity and success of the sport in the UK and are now extremely excited for the 2023-24 season, continuing to break records on the domestic and European stages."

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