Manchester’s professional basketball franchise under US ownership

The Manchester franchise for the men and women’s professional basketball teams has been acquired, for an undisclosed sum, by American-based Sherwood Family Investment Office, led by Chief Executive Ned Sherwood and President Ben Pierson.
The men’s franchise will compete in the new Super League Basketball (SLB), along with the women’s team continuing in their elite competition.
Ned Sherwood started his career at AEA Investors, one of the first US private equity firms formed.
He subsequently founded and managed private equity firm ZS Fund LP for more than 40 years, serving today as Chairman Emeritus.
The family office invests globally in a wide range of projects, bringing a long term partnership focus and a creative, problem-solving mindset, it said.
Ned Sherwood said: “The new energy of the league is palpable. We are thrilled to be a part of this exciting turning point in professional basketball in Great Britain.
“The goal over my career has been to find or build high quality businesses with top level management teams. As partners, we work tirelessly to help our businesses achieve long term success. We look forward to developing a sustainable, elite franchise for Manchester.”
Ben Pierson said: “Manchester is a world class city for sport and culture.
“We aim to bring the Manchester franchise back to the level it belongs – competing for trophies for the city.”
He added: “Basketball in Manchester is an integral part of schools, youth, and culture. It is imperative that we restore stability throughout the franchise, and grow our partnerships throughout the community. We look forward to delivering on this through our actions, not just our words.”
The new franchise, led by Pierson, is pleased to welcome back the club’s former operation’s manager and highly decorated women’s player, Dominique Allen, in a promoted role as Head of Operations.
She said: “I’m really excited to be part of the new franchise and looking forward to its successful evolution as a top-tier club. We would like to thank the fans and partners, including our educational partner, MMU, for their patience as we look forward to a new era for basketball in Manchester.”