A consortium of clubs has been awarded a licence to run the men’s professional basketball league in Britain.

The future of the British Basketball League was thrown into doubt in June when the British Basketball Federation terminated the previous agreement with Basketball League Ltd (BLL) to run the league because of “clear breaches of the licence” and financial concerns.

Premier Basketball Limited, a company formed from a consortium of British clubs, has now been given a three-year licence which “allows preparations for the 2024-25 season to be completed”.

“I’m delighted that fans, players, staff and partners can look forward with confidence to the continuation of top level British club basketball,” said BBF chair Chris Grant OBE.

“The fact that we’ve been able to move so quickly following the termination of the previous licence is down to the positivity and unity of the clubs, as well as the professionalism and focus of our BBF team and board.”

The BLL had been operating the men’s game since being awarded a 10-year licence by the sport’s governing body in 2017.

United States-based investment company 777 Partners – who failed to complete a proposed takeover of Premier League football club Everton – bought a 45% stake in the BLL in December 2021.

The BBF added that “preparations are already underway for the scoping and invitations to bid for a long-term licence” and that the fixture list for the 2024-25 season is to be announced “in the coming weeks”.