Automotive Supplier Brose Takes Over Basketball Bundesliga Club Baskets Bamberg
Automotive supplier Brose took over all shares of the Franken 1st Basketball Holding GmbH, Bamberg on Oct. 22. A company spokesperson said, "With this decision we document our interest in a long-term oriented and stable development of Bamberg's elite basketball." Franken 1st will merge with Bamberger Basketball GmbH and operate under the latter name. The Franken 1st group was founded in '07 to legally document the existing cooperation with Nuremberg's Basketball. The takeover of the shares through Brose happened on the basis of the increasing economic and athletic competitiveness in basketball. The Brose Group said, "In order to continue to compete at a top level in Germany and Europe, the basketball group requires a solid financial foundation and a further professionalization" (Brose Baskets Bamberg).