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The following is a statement from the BBL, to view the original CLICK HERE.
The British Basketball League (BBL) can confirm ahead of the 2022/23 season that it has removed the Team Payments Cap.
The lifting of the restrictions reflects the monumental growth and momentum the league has built in the previous 12 months, following on from the landmark £7m deal with Miami-based alternate investment firm, 777 partners. This has led to increased attendances across all teams competing in the BBL Championship, as well as the showpiece events across all competitions.
This exciting decision, which was overwhelmingly backed by the league’s clubs, is the next step to the British Basketball League achieving its goal of becoming a top level European league, with its clubs regularly competing in top level competition.
The league are delighted to see both the Leicester Riders and London Lions competing in European competition this season. Ensuring the league’s clubs are competing in Europe on a regular basis provides significant benefits to all of our clubs, as well as playing an instrumental part in the continued accelerated growth of the league off the court.
By raising the profile of the league, it allows the BBL to look to attract the very best talent from across the continent, including top GB players, to the league. This in turn improves the reputation of the sport from an on court perspective, as well as a commercial perspective which is key to taking the league to the next level on its exciting journey.
Homegrown and British talent is fundamental to the league’s growth and removing the Teams Payment Cap will increase opportunities for homegrown talent to make their mark in the BBL as opposed to moving further afield. This decision also highlights the league’s commitment to providing the most entertaining product for its most important stakeholders, the fans.
British Basketball League, Chairman, Sir Rodney Walker, said:
“The league is pleased to be able to make this important change and we believe it highlights the continued growth of the BBL both domestically and on the European stage. We want to be able to continue to attract some of the most skilled and entertaining players to our league and we feel this is a significant step for the continued momentum we have built in the last twelve months.
“It is essential the league continues to grow and put on the best possible spectacle for the fans who come out each week. Finally we believe that if the BBL can nurture the very best British talent we can continue to achieve great success on and off the court in the years ahead.”