UK Sport announced their allocation of funds in preparation for the 2012 Olympic Games and one of the main beneficiaries was British Basketball. The funding of £8.7m over the next four years represents an increase on previous levels, and provides a strong platform for the Great Britain teams in preparation of the European and World competitions in forthcoming years.

Fast Track who have worked with British Basketball for the last two campaigns are equally as pleased about the funding announcement, Jon Ridgeon, Managing Director commented “we are as delighted as British Basketball about the fantastic news. We all strongly believe this is the next exciting step for the sport within the UK and we look forward to supporting British Basketball in the journey through to 2012”

Commenting on the award Bill McInnes, Chair of British Basketball said, "This represents a great opportunity for Great Britain to establish our teams in the game's elite. It also signals to the Home Basketball Associations the commitment by government to growing the game. In response we must get behind British Basketball's performance strategy ("Game On"), in a way we have never done before. This award represents a huge endorsement of the potential of the game. Everyone is delighted with award and fully accept the responsibility placed on us to perform."

Alistair Gray, Vice-Chair of British Basketball said, "Basketball has clearly emerged a winner from the review process. This represents a major boost for the sport in Britain, and provides our performance team with an excellent level of resources behind our teams. It also places a great responsibility on the sport to perform as never before. This will require change throughout the sport, building on the progress that has been made over the last three years, when UK Sport began funding the British teams."

Chris Spice, Performance Director of British Basketball said "This funding provides us with a great platform from which to build on our great progress to date. Our men's programme is growing in stature in Europe's elite and our women's squad has an important challenge ahead in January to protect our Division A status. With this vote of confidence comes great responsibility and pressure to perform which is the business we're in. We relish the challenge to perform successfully in 2012 and leave behind a lasting legacy for elite level basketball in Britain."

This season the men's senior squad qualified for the finals of the European Championship Finals, to be held in Poland in 2009. The women's squad competes in January 2009 in a 4-nation play-off to retain their status in Europe's top division. British Basketball is also developing a partnership with the NBA and FIBA to optimize the opportunity from the 2012 Olympic Games in London.