From Vilnius to Łódź: Gediminas Žiemelis’s New Basketball Venture
Gediminas Žiemelis, the Lithuanian businessman behind the ill-fated Vilnius “Wolves” basketball club, is setting his sights on a new project: a team in Łódź, Poland. This move comes after a significant investment – approximately 12 million euros – into the Wolves, followed by the club’s disbandment and reported losses of up to 10 million euros for Žiemelis. The new venture signals a continued ambition in the world of professional basketball, despite past setbacks.
The Wolves’ Demise and Žiemelis’s Perspective
The “Wolves” project, intended as a catalyst for change in Lithuanian basketball, ultimately faltered. Žiemelis described the club as an “experiment” to understand the business of professional sports and arenas. Despite building a state-of-the-art training facility and acquiring a major arena (later sold for 40 million euros), the club was dissolved. Remigijus Milašius, President of the Lithuanian Basketball League, acknowledged the loss to Lithuanian basketball following the club’s closure.
A Second Chance in Poland?
Žiemelis’s focus has now shifted to Poland, where he’s backing a team currently competing in the second-tier Polish league. The team in Łódź aims to reach the top league, and Žiemelis has expressed initial interest in a larger basketball project within the country. Maciej Olšynskis, the club’s vice-president, confirmed Žiemelis’s interest, stating the team possesses the necessary resources – a club, fanbase, and organization – to achieve success.
Tomas Pačėsas Takes the Helm
Former coach Tomas Pačėsas, who previously worked with Žiemelis, has been appointed as the new head of the Łódź team. Pačėsas, a six-time Polish champion, has already begun making changes, including a coaching change and the surprising addition of 41-year-old Maciej Lampe, who hadn’t played in four years. Pačėsas is familiar with the Polish basketball landscape, having coached several Polish teams in the past.
Concerns and Comparisons to the “Wolves”
Polish journalists have questioned whether the Łódź team will suffer the same fate as the “Wolves,” raising concerns about Žiemelis’s potential to abandon the project once his interest wanes. Pačėsas addressed these concerns, emphasizing that the Vilnius project was about more than just business; it was an investment in the development of basketball. He also noted the unique challenges of competing with established teams like Kaunas Žalgiris in Lithuania.
The Future of Žiemelis’s Basketball Investments
Žiemelis’s move to Poland represents a strategic shift, potentially seeking a more favorable market and a different set of challenges. The success of this venture will depend on several factors, including Pačėsas’s leadership, the team’s performance, and Žiemelis’s long-term commitment. The Polish basketball market, while competitive, may offer a more sustainable environment for his ambitions.
FAQ
Will Gediminas Žiemelis fully own the Łódź team?
The team is currently an association, making a direct purchase impossible. Žiemelis has expressed initial interest, but ownership structure remains to be determined.
What happened to the Vilnius “Wolves”?
The “Wolves” club was disbanded after Žiemelis determined the project hadn’t achieved its sporting or commercial goals. He reportedly lost up to 10 million euros on the venture.
What is Tomas Pačėsas’s role in the Łódź team?
Tomas Pačėsas is the new head of the Łódź team and is responsible for leading the team’s efforts to reach the top Polish league.
Did you know? Gediminas Žiemelis also owns the International Basketball League and European Basketball Association brands.
Pro Tip: Investing in sports teams can be a high-risk venture. Thorough market research and a long-term commitment are crucial for success.
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