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The Belgian-Dutch basketball league approved a recovery plan to strengthen the financial position of the BNXT League during a special meeting on Saturday in Den Bosch, Netherlands. Almost all participating clubs have agreed to become shareholders in the BNXT League. That became known on Tuesday.
Source: BELGA
Yesterday at 5:27 PM
“Financially, our young league has not had an easy time, I have to be honest about that,” reports Dutch chairman Ramses Braakman. “Corona and, above all, the unexpected loss of our main sponsor BetFirst has caused severe weather. Because we have only been around for two and a half seasons and the BNXT product is still developing in all respects, we did not have the fat on our bones to be able to absorb this for a while. The Belgian and Dutch clubs have taken a constructive stance and, above all, have shown courage. Their attitude shows belief in our joint initiative and radiates strong ambition.”
The BNXT League has suffered greatly from the sponsorship ban for gambling companies in Belgium, the league even feared for the survival of the competition. Most advertising for gambling games has been banned in our country since July 1. And from 2028, gambling advertisements will no longer be allowed to appear on the shirts of professional sports teams.
The solution
An internal solution has now been found with the help of the Belgian and Dutch clubs, “almost all” of which have accepted to become shareholders in the BNXT League. “The shareholding means, on the one hand, that the equity of the BNXT League is largely purified by the clubs themselves and on the other hand, that they jointly gain even more control over the course and ambition of the competition. The exact content of the new structure will be further elaborated in the coming months, after which it will be implemented in the spring.”