Scotland’s only professional basketball franchise is under new ownership.
Caledonia Basketball Holdings Ltd has purchased 100% of shares in the company which owns and runs the Glasgow Rocks.
The teams plays at the Emirates Arena and competes in the British Basketball League (BBL).
The firm taking over the club is fully owned by Steve and Alison Timoney.
Mr Timoney is the founder of Smart Metering Systems, which has a base in St Vincent’s Street, Glasgow.
The Glasgow Rocks had been owned by businessman Duncan Smillie since 2017.
“After five years of being the privileged custodian at Rocks, it is time to hand over the ball to Steve and Alison,” he said of his departure.
“They have phenomenal energy and passion for the game and will be great owners. Make no mistake this is a game changer for Glasgow Rocks.”
“The last five years have been great fun on a personal level, Covid aside, and whilst no silverware was delivered, I’m still immensely proud of where the franchise is today.
“We are a stable, financially secure club in a very challenging sport that is ready to move forward to the next level.”
Mr Timoney outlined plans to build a “leading-edge” arena to take the club forward.
“We are delighted to be the new owners of Glasgow Rocks. The club is in very good shape with Duncan’s stewardship through difficult times,” he said.
“We have been clear in our commitment to build a purpose-built, leading-edge arena that will provide a platform for this club and our WBBL club, Caledonia Gladiators, to compete at the top level, and for basketball in Scotland to build on what is already a very strong and loyal fan base.
“Those plans are coming together. When completed, we believe Glasgow Rocks will thrive in an environment where we will see basketball of the highest standard, in a modern arena with the kind of technology and facilities that fans want to experience.”
He added: “The support of the fans has been an essential ingredient in the success of Glasgow Rocks and we are keen to build on this very strong relationship as we progress in our ambition to inspire communities to become involved in a world-leading sport.
“Importantly, we look forward to an exciting season ahead at Emirates Stadium.”