Lithuania's Confluence Valley buys control of basketball club Joventut Badalona
What's the deal? Investment holding Scranton EnterprisesDealroom has a profile for this one. Try Dealroom → has agreed to sell its majority stake in Spanish basketball club Joventut BadalonaDealroom has a profile for this one. Try Dealroom → to Confluence Valley, the companies announced in October 2026. Terms were not disclosed. The deal also brings current player Ricky Rubio, a club academy product, into the ownership.
Who are the buyers? Confluence Valley is a basketball-focused partnership between Lithuania's Žalgiris Group and technology investor Tesonet. It plans to grow the club through diversified revenue and events, modelling its approach on Žalgiris Kaunas and the commercial use of Badalona's Palau Olímpic arena for cultural, musical, and sporting events.
Why now? The sale closes an eight-year chapter that began in 2018, when Scranton — an investment vehicle backed by the Grifols family and others — rescued the club 48 hours before liquidation. Scranton points to Joventut's September 20, 2026 Supercopa Endesa title, won against FC BarcelonaDealroom has a profile for this one. Try Dealroom →, as proof of its turnaround.
What's the strategy? Confluence Valley has committed to preserving the club's identity and youth academy while expanding its commercial footprint. Scranton will stay on as a financial partner through to the club's centenary in 2030.
"Scranton decided to invest in Club Joventut Badalona in 2018 because it considered it essential to preserve a historic institution," said Scranton shareholder Tomás Dagá. "Eight years later, mission accomplished." (translated from Spanish)
What could go wrong? The transaction still needs approval from Spain's Higher Sports Council. The arena-led model has worked for Žalgiris, but it remains untested in Badalona.
The signal: The deal marks another step in treating basketball clubs as commercial platforms — built on arenas, events, and digital services rather than on-court results alone. Rubio's stake adds a symbolic link to the club's identity, though no capital commitment was disclosed.
Read more: forbes.es
Image credit: FCBQ
