Club Joventut Badalona has agreed to a sale that transfers ownership to the Lithuanian business group Confluence Valley and brings Ricky Rubio into the club’s ownership group, as reported on Friday.
Confluence Valley and Ricky Rubio Take Control of Joventut Badalona
The acquisition, announced on Friday by Asisa Joventut Badalona, marks a definitive turning point for one of Spanish basketball’s most historic institutions. Confluence Valley, an investment vehicle created in October 2026 by the Lithuanian club Zalgiris alongside technology and investment firm Tesonet, will assume stewardship of the Badalona side. The transaction also incorporates Ricky Rubio—who returned last season to the club where he developed as a youngster—directly into the entity’s shareholding structure.
The landmark agreement remains subject to the final approval of Spain’s High Council for Sports, known as the Consejo Superior de Deportes (CSD). The deal effectively caps a remarkable sporting and institutional revival for a club that teetered on the brink of financial collapse in 2018 before being rescued by the Grifols family through their investment vehicle, Scranton.
Scranton Retains Financial Ties as Debt Legacy Fades
Eight years after stepping in to save the club from severe financial distress, Scranton announced it will maintain a continuing presence at the club as a financial partner. In an official statement, the outgoing ownership group emphasized that the club’s youth academy—historically known as the ‘Bressol’ of talent—will remain a foundational pillar under the new administration.
Confluence Valley committed in the announcement to preserving the club’s distinct identity and deep-rooted ties to the city of Badalona. According to the corporate communication, the incoming investors intend to keep basketball as the priority while respecting the institution’s longstanding social and cultural footprint in the region.
Municipal Backing and On-Court Momentum
Badalona Xavier García Albiol publicly endorsed the transaction, describing the agreement as magnificent news for both the club, affectionately known as the Penya, and the wider municipality. The mayor highlighted the symbolic and practical weight of Rubio transitioning to the boardroom.
“Ricky is not only an international basketball reference, but also a figure who embodies as few do the values of the Penya, its youth academy, and the city of Badalona,” García Albiol stated, confirming that the city council had been kept fully informed throughout the negotiations.
The ownership change arrives while the team enjoys strong momentum on the hardwood under head coach Dani Miret. Joventut currently boasts a competitive roster that captured the most recent Supercopa Endesa title and reached the ACB semifinals, underpinned by Rubio’s presence on the court.
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