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Hasib Howlader and Nimish Patel, of Hudson Weir, have been appointed as joint administrators of London Lions, the British professional basketball team based in Stratford.
Howlader and Patel will now run the business until a suitable buyer can be found.
The team, which competes in the league formerly known as the British Basketball League, was placed into administration by a debenture holder of the club.
Howlader said: “This illustrious basketball team was originally founded in 1977 as the Hemel Hempstead Lakers, and following an ownership takeover by Vince Macaulay the team relocated to Milton Keynes, where they were known as Milton Keynes Lions, winning its first trophy, the British Basketball League in 2008. Relocating again to London in 2012, playing its home games at the Queen Elizabeth Olympic Park the club launched a ladies’ team into the Women’s British Basketball League in 2017.
“With such a rich heritage and pedigree, this team has the support of the local community as its backbone and has a loyal fan base. We are now seeking a serious buyer to take the London Lions on the next part of its journey, to ensure this club continues to thrive and grow. The sale will include the assets of the business and all goodwill amassed over the last 47 years. We are interested in talking to serious prospective buyers and whilst our focus is to sell the club to the best bidder, we are open to serious offers.“
