Scranton sells Joventut de Badalona to a Lithuanian group and Ricky Rubio enters the club's capital
The holding company linked to the Grifols family took control of the Catalan entity in 2018, when it was on the brink of liquidation.
Scranton Enterprises, a holding company linked to the Grifols family, has sold its majority stake in Joventut de Badalona, a Catalan basketball club, to Confluence Valley, a Lithuanian group that owns Žalgiris Kaunas. The deal, which sees Confluence Valley become the new majority shareholder, was accompanied by a separate investment from Ricky Rubio, a former Joventut player, who has taken a minority stake.
Scranton Enterprises had acquired control of Joventut in 2018 when the club was on the brink of liquidation and has since increased its stake to 86%, helping to stabilize the club's finances. The company will remain a minority shareholder and financial partner.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
