Proposed venue and community arena, with at least 15,000 seats, could deliver £3.4 billion economic impact and create nearly 1,000 full-time jobs
LONDON, 10 November 2025 – The London Lions have completed the first phase of a feasibility study into a new, custom-built multi-purpose arena in London – a project which would give a major boost to basketball, sport and culture across the capital.
The study follows the Mayor of London's announcement in July backing the Lions' ambition to build a permanent home for basketball in the city, supported by City Hall's technical expertise and strategic guidance.
Conducted with The Sports Consultancy and Trivandi, the study marks the completion of RIBA Stage 1 and confirms the viability and demand for a new large arena in London of at least 15,000-seat capacity - appropriate for basketball and multi-purpose events, alongside a 3,500-seat secondary community arena.
The development would provide the London Lions with a permanent home while delivering substantial benefits to London and the wider UK. Independent analysis projects a total economic impact exceeding £3.4 billion over 13 years, the creation of around 1,000 full time equivelant jobs, and significant regeneration potential.
The main arena would host approximately 40 basketball games each year, including London Lions fixtures and major international events, alongside more than 100 sports and cultural performances – ensuring year-round activity and financial sustainability.
The community arena would become home to the London Lions women's team, a training facility and a dedicated hub for grassroots basketball, creating opportunities for young people and local residents to access the sport in a professional environment.
Mayor of London Sadiq Khan said: “London is the sporting capital of the world and I am pleased to support the London Lions as they pursue their ambitious vision to establish a new, multi-purpose arena in our city.
“We will continue to harness the huge popularity of basketball to create positive opportunities for young people, attract new fans to the sport and host even more major events, which will provide a significant boost to the economy and help build a better, healthier and more prosperous London for everyone.”
Lenz Balan, CEO of the London Lions, said: "This is a significant moment for the London Lions and British basketball. We've always known we need a true home for the game in London – somewhere that brings people together and gives young people a place to belong. This study shows it's not only possible, but that the impact on the city would be substantial.”
Tomas Okmanas, co-founder of Tesonet, the Lions’ ownership group, pledges its full backing for the arena project and points out that Tesonet joining the London Lions marked the return of the London name to European basketball, a proud achievement both for the company and the club’s supporters.
"It took a major commitment from us to get here. It’s almost eight million euros each year over the past two seasons, with the same planned for the ones ahead. And this is only the beginning of our shared vision for the club and for the future of basketball in London.
"We’re grateful to Mayor Sadiq Khan and his office for supporting this bold vision of building a lasting basketball legacy for London. Together, we’re focused on what’s next: finding the right place for a new world-class arena, building it, and creating opportunities for young Londoners to grow through basketball.”
With Phase 1 complete, the project moves into the second stage of feasibility in partnership with Legends, the global premium experiences company. This will explore detailed site options, planning and delivery strategies, and engage partners across London to identify where the arena can best serve both sport and local communities. The next phase will also examine funding approaches and delivery models to ensure long-term sustainability.
Growing Momentum for Basketball in London and Across England
The feasibility study comes at a time of unprecedented growth and investment in basketball across the capital and England.
The Mayor of London established a dedicated Basketball Taskforce in 2024 to elevate the sport's profile, secure major events, and create opportunities for young people. In January 2026, the NBA will return to London for the first time since 2019, with the Memphis Grizzlies facing the Orlando Magic at The O2. Manchester will host its first NBA regular season game in 2027 at the Co-op Live arena. Combined, the games are projected to generate over £100 million in economic impact.
Earlier this year, the UK Government and NBA announced a landmark £10 million joint investment to grow basketball in England – the first time the Government has committed dedicated funding for the sport. The Government will allocate £5 million in 2026/27, with the NBA matching that investment through to 2028 to expand grassroots programmes that currently reach more than 50,000 young people across the UK each year.
Basketball is now the second most popular team sport in England, with 1.15 million people playing weekly.
