British Basketball Association Gain Galatioto Sports as Finance Partner
October 3, 2011
The British Basketball Association announced today that the league has entered into an agreement with leading sports financing firm Galatioto Sports Partners (“GSP”), marking a significant step toward the league’s targeted 2012 launch.
BBA Chief Executive, Ron Scott, said:”We are proud to announce our partnership with Sal Galatioto and GSP. GSP’s roster of clients and resume of success are equally impressive, and they share our enthusiasm for the future of professional basketball in the United Kingdom.”
Led by President and Founder Sal Galatioto, GSP will assist the league’s efforts in identifying financial investors. Over the past decade, GSP has acted in the capacity of Financial Advisor, Arranger, Lead Agent, and in other roles in over 70 transactions in the four major North American sports leagues as well as European football clubs, including F.C. Internazionale Milano.
Galatioto said: “GSP is proud to be working with the British Basketball Association to create the premier basketball league in the United Kingdom.”
Scheduled for a 2012 launch, the British Basketball Association was founded in 2007 by U.K. businessman and philanthropist, Ken Olisa, Wall Street veteran Ron Scott and former NBA star AC Green.
The BBA’s mission is to become the premier professional basketball league in the United Kingdom by building a league focused on the development and retention of British athletes, while attracting quality players from around the world. The league has assembled a highly proven management team with deep knowledge of the United Kingdom and global basketball market, and are looking to build a competitive British league which will rival some of the best in Europe.
Ken Olisa, BBA Chairman, added: “Basketball in the UK has long been a headless sport. We have massive street interest and a thriving amateur league environment. Unfortunately, this grass roots enthusiasm isn’t reflected in the professional structures and above. As a result, the UK stands out as the poor child of global basketball with almost every European country beating us organisationally and UK fans reduced to watching foreign matches on TV to find British players in action. The BBA intends to fix that and to restore pride in British basketball for every one of the thousands of players and fans who deserve better.”
Mr. Galatioto joins an impressive list of BBA directors and advisors, including former NFL star Lynn Swann, NBA veterans Dr. Bernie Mullin, Ed Tapscott, Mark Pannes, Len Elmore and John Amaechi, former IMG executive and sports agent William Strickland, along with U.K. sports and business professionals Keith Harris, Ed Simons and Stephen Wright.
The BBA has targeted a 2012/2013 inaugural season, with a 30-game schedule played between November and April. The league plans to increase the schedule to a 42-game season by year three. The league will consist of 6-8 teams in year one, with expansion toward a goal of 12-16 teams within five years. Games will also be televised nationally via a national broadcast partner to be announced at a later date.