The Foundation delivers programmes around basketball and a wider social agenda in Leicester, Leicestershire, and the East Midlands. These programmes are usually delivered in partnership with schools, local authorities, local universities and colleges of further education, housing associations, community groups, and charities.
The Foundation’s programmes cover a wide range of activities, including basketball participation, basketball elite programmes, working with disability, education, healthy living, aiding social inclusion, and a variety of other related areas.
The investment by Big Issue came at a critical time as the arena coped with the impact of Covid, which resulted in increased debt. We had to recover by developing increased revenue streams even while the cost-of-living crisis meant customers necessarily were more selective in which events they attended. We are continuing to invest in the arena to improve our use of capital and to give more options to customers.”
Challenge
They needed to improve the options available to get increased return on staging of Events in our Arena. The Events make the Arena financially viable, whilst in parallel, the arena is available for community activities, which are all generally below cost and affordable for students and other young people.
Solution
Improve the arena’s facilities, particularly related to corporate hospitality, including better facilities, better-appointed facilities, more corporate facilities, purchasing of associated assets versus rental, and increasing the flexibility in use of existing spaces, including extended wi-fi and power.
Revenue Model
Increased pricing for certain corporate offerings, including offering a mix of corporate options.
Impact
We have increased revenues in spite of reduced numbers at many events due to the cost-of-living crisis.
“Big Issue Invest has been proudly supporting Leicester Riders since 2019. Each year, the Leicester Riders engage with over 20,000 participants through coaching, personal development, and inclusive programmes. BII strongly supports the way they harness the power of sport to drive lasting community impact, making basketball accessible and empowering the next generation both on and off the court.” .