British Basketball League x 777 Partners

Commercial Due Diligence and Value Creation Plan

We advised 777 Partners on its equity investment and post-transaction growth plan for a professional sports league. 

The challenge… 

We were engaged by 777 Partners looking to make their first European sports investments, with our assistance. They had entered exclusive negotiations with the British Basketball League (BBL) and asked for our initial support to conduct a market assessment and commercial due diligence, and then to co-develop a 120-day plan.

The approach…

We worked in partnership with the investor to assess the European Basketball and British sporting landscapes, identifying the investment opportunities and risks related to the BBL investment. We conducted commercial due diligence on the property, including interviewing key commercial partners.

This enabled us to work with the investor and the league to identify the priority activities and key areas for league support, which were incorporated into a 120-day post-close plan, as well as to lay the foundations for longer-term targets for the league's exciting growth trajectory.

The impact…

In December 2021, the transaction closed with a commitment to invest £7 million for a 45% stake. The league is putting in place strong foundations for future growth, and Portas continued to provide implementation support after closing.