The Raiders announced at the start of this month that they would be withdrawing from the 2021-22 campaign due to ‘ongoing difficulties surrounding a suitable playing venue’.
However, now the BBL have said the Plymouth franchise has been taken over by local businessman and club sponsor Carl Heslop and the club will compete this coming season.
Heslop said: “I am delighted that, working with the BBL, we have found a way forward to keep the club in the top-flight of British basketball.
“The club has a storied history, and is at the heart of the community, and it is right that we found a way to continue its great work.”
“I have been very pleased with the support we have had from the City Council, Marjon University and the BBL.”
“But, most importantly, the supporters and wider business community, have really stepped forward, and it gives us confidence we can work towards a sustainable future.”
Plymouth City Council leader Nick Kelly is delighted with the news.
“Plymouth basketball club are a very important part of the fabric of the city and their community engagement and talent development, and close alignment with the education sector, means we want to continue to work closely with the club’s new owners, and the BBL, to help them deliver their plans,” said Kelly.
“We look forward to working with Carl and his team, and the BBL, to make that happen.”
Chairman of the BBL Sir Rodney Walker said: “Plymouth has always been a well-supported club and basketball is a sport that is popular in the most challenged communities in our society, and we want to ensure that basketball continues to support those communities in Plymouth.”
In the 2020/21 season, the Raiders achieved its highest BBL finish, taking third place, and they reached the BBL Trophy final.
It has yet to be confirmed where the team will play their home fixtures or whether they will be called Plymouth Raiders.