By Eurohoops team / info@eurohoops.net
The British Basketball Federation (BBF) announced it will enter liquidation, citing a major drop in income and unexpected costs that left the organisation unable to meet its liabilities. In a statement, the BBF confirmed it has ceased trading “due to a significant and unanticipated reduction in income” and “unforeseen expenditure.”
According to BBC Sport, the federation’s financial situation was significantly affected by legal expenses incurred during its dispute with Super League Basketball (SLB). The conflict followed the BBF’s decision in April to award a 15-year licence for a new men’s professional league to GBB League Ltd (GBBL), a group led by Marshall Glickman and backed by a planned £15m investment.
SLB’s nine clubs challenged the tender process as “illegal and unjust” and refused to join the proposed league. Last week, SLB reached an agreement with FIBA to oversee the top-tier men’s competition in Great Britain. In November, FIBA also suspended the BBF due to governance concerns.
The BBF said its immediate priority is ensuring the stability of Great Britain’s national teams ahead of upcoming FIBA competitions. FIBA stated it will continue supporting efforts to restore the federation’s operations.
UK Sport told BBC Sport it is working with the government and basketball stakeholders to “establish a way forward.” GBBL said it is consulting legal counsel regarding the status of its licence and expressed concern over funds already paid to the BBF.