Scranton vende a un grupo lituano el Joventut de Badalona y Ricky Rubio entra en el capital del club

In 2018, the Grifols-linked holding group acquired control of the Catalan basketball team Joventut Badalona, which was on the brink of liquidation. Scranton Enterprises, a holding company owned by the Grifols family and former pharmaceutical executives, sold the team to the Lithuanian group Confluence Valley, the owner of Žalgiris Kaunas.

Ricky Rubio, who was developed in Joventut, also took a minority stake in the parallel operation. Scranton had taken control of the club, known as La Penya, in 2018 as it faced a major financial crisis. Since then, the Dutch holding has increased its stake to 86% to address the team's needs. The Dutch group has stabilized Joventut's economic situation by diversifying its revenue streams, modernizing the Olympic Hall, and opening up new activities, hosting concerts by top artists like J Balvin and Lluís Llach.

Scranton decided to invest in Joventut Badalona in 2018 due to its belief in preserving a historic institution for Badalona, Catalonia, and Spanish and European basketball, which was at risk of liquidation at the time. Eight years later, the mission is complete, and it's now time to pass the torch to a specialized basketball group like Confluence Valley, which can further develop the sports project.

Tomás Dagá, a Scranton shareholder, explains. Confluence Valley also rescued Žalgiris Kaunas from a similar situation as Joventut. Ricky Rubio will be responsible for continuing the legacy and Scranton's commitment to the club through one of the players who best represents its history and identity, adds Dagá. Scranton will continue to be a minority and financial partner to the club. The operation was advised by Osborne Clarke and Bird & Bird.