London Lions' ownership under scrutiny / News - Basketnews.com

British Basketball League urgently probes allegations against 777 Partners, owners of London Lions, which allegedly have been involved in activities such as kidnapping, predatory lending, fraud, and drug-related charges.

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

Scottish journalist Stuart Hodge reported he received information from multiple sources indicating that the British Basketball League (BBL) is currently investigating EuroCup team London Lions, focusing on the suitability of its owners, 777 Partners, to manage the club.

In turn, the British Basketball League Board of Directors notes in a statement that "a review of any one, or several clubs, is not extraordinary and is a measure in place to safeguard the financial sustainability of the league and its clubs, and ensure that the league and clubs are in a great position to meet their aspirations of growth."

"The British Basketball League's Board of Directors, as part of their fiduciary duties to the league, regularly review the health of its clubs. We don't comment on specific reviews, but we would like to make clear in this instance that Stuart Hodge's reporting of an investigation is wholly incorrect," the BBL statement mentions.

The statement comes in response to Hodge's report anda highly sensational article in Josimar Football that contained alarming allegations 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.

The article cites various points of reference, including US court documents and witness statements, to support its claims. However, 777 Partners has dismissed these assertions as "inaccurate and defamatory."

777 Partners, which holds ownership of the Lions as well as a 45% stake in the BBL, vehemently denies the allegations presented in the Josimar article. The American-based investment group has 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."

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