In its statement, BBF said it ceased operations “due to a significant and unexpected decrease in revenue and unforeseen expenses resulting in the company’s inability to meet its obligations as they fall due.”
The development follows a damaging legal battle with the Super League over the future of elite domestic football, as well as a controversial deal with rival investors, the GBBL.
It is expected that many of the BBF’s responsibilities will now be transferred to the England Basketball Team.
The liquidation comes shortly after FIBA suspended both the BBF and the Great Britain men’s national team due to a long-running dispute between the federation and the Super League.
BBF added:
“The British Basketball Association announces that it has ceased trading due to a significant and unforeseen reduction in income and unforeseen expenditure, which has resulted in the company being unable to meet its obligations as they fall due.”
“With the support of professional advisers, BBF Ltd is taking the necessary steps to place the company into liquidation.”
“The immediate priority for all domestic basketball players is close cooperation with the sport’s international governing body, FIBA, in order to ensure the continued stability and security of Great Britain’s national teams, including fulfilling our obligation to participate in upcoming FIBA competitions,” reports B92.
The Great Britain men’s national team is due to face Lithuania in the 2027 FIBA World Cup qualifiers at the end of November. Both teams are in Group D along with Italy and Iceland.
(Vijesti.ba)
