Lithuanian 3×3 basketball association has presented its annual report for the year of 2020

3×3 basketball went through a changeable year in 2020. Despite the fact that the global pandemic postponed the Tokyo Olympics for a year, where 3×3 basketball will debut as an Olympic sport, last year helped the sport to grow in popularity and expand the list of basketball players eligible for the Olympics. A record budget during the association’s period of operation has been set for this purpose.
The Hoptrans 3×3 tournament organized by the 3×3 Basketball Association, the Lithuanian Basketball League and the Lithuanian Basketball Federation has broken the silence on the basketball courts since March 2020, attracting the attention of fans from all over the world.

After this tournament, Utena “Juventus-Uniclub Casino” joined the ranks of the elite teams, joining the Šakiai “Gulbelė“. For the first time in the FIBA World Tour stage, we had two Lithuanian teams, and in the final stage Utena has reached the historical 3rd place.

There was a preparation going for the U-17 European Championship, which was to be attended by the representatives of Lithuania. A special tournament was created to select the team that would represent Lithuania.

Last year, the 3×3 basketball association has accounted for the 434,400€ revenue. Sources of income – monetary support (249,000€), advertising revenue (64,700€), advertising exchange, refunds (10,700€) and FIBA prize funds (110,000€). This amount does not include additional monetary support of the Lithuanian Basketball Federation – the Lithuanian Basketball Federation has spent an additional 45,000€ euros for the development of basketball.

The costs of the association in 2020 amounted to almost 495,000€. Slightly more than 8,000€ were allocated for the maintenance of the administration, 6,700€ for other personnel, 16,600€ for public relations and marketing.

FIBA 3×3 World tour trips and cash prizes for transferred to teams were estimated at almost 110,000€, FIBA licenses – 10,500€.

The Hoptrans 3×3 tournament in Palanga in July cost more than 262,000€, and other tournaments organized last year – 11,400€.

There was also a selection of the boys’ U17 team, which cost 6,300€. At the beginning of the year, Lithuania’s main 3×3 team was preparing for the Olympic qualifiers and participating in friendly tournaments. Main team, the reserve team and the youth national team training camps accounted for 23,000€.

14,000€ was allocated for the storage of sports equipment and the acquisition of fixed assets. Debt settlement and VAT – more than 23,000€.

Profit and loss statement has outlined more than 60,500€ loss. „3×3 basketball in Lithuania is still making its way to greater popularity. Being visible and known costs us twice as much money and twice as much effort as is necessary to intervene in the country’s basketball agenda”, – said Ignas Grinevičius, the head of the 3×3 basketball association.
The goal of the association will continue to be the development of this sport and not the pursuit of profit. Investments in the acquisition of fixed assets – 3×3 basketball infrastructure – are also planned.

The aim will be to create a budget that is at least 10% higher than last year, thus ensuring the smooth continuity of projects and accomplishment of new targets. One of them is the emergence of professional 3×3 teams, which will appear in the Lithuanian 3×3 basketball championship from April for the first time.

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