The London Lions have moved a step closer to securing a new 15,000-seater custom-built basketball arena in the capital.The project would provide a £3.4billion boost to basketball, sport and culture in the area.The table-hopping London Lions could be set for a swanky new homeIt follows the announcement by Mayor of London Sadiq Khan in June in which he gave his full support for the Lions’ plans to build a permanent home in the city with support from City Hall’s technical expertise and strategic guidance.What did Sadiq Khan say about the plans?Khan said: “London is the sporting capital of the world and I am pleased to support the London Lions as they pursue their ambitious vision to establish a new, multi-purpose arena in our city.“We will continue to harness the huge popularity of basketball to create positive opportunities for young people, attract new fans to the sport and host even more major events, which will provide a significant boost to the economy and help build a better, healthier and more prosperous London for everyone.”In a huge step forward in their plans, the London Lions have now completed the first phase of a feasibility study into the new arena.The 15,000-seat arena, which will be geared towards basketball and multi-purpose events, will be accompanied by a 3,500 seat community arena.The economics make for good reading with an independent analysis projecting a total financial impact of more than £3.4 billion over 13 years, the creation of around 1,000 full time equivalent jobs, and significant regeneration potential.The main arena would host 40 basketball games each year, which include London Lions games and major international events.The community arena would become home to the London Lions women’s team, a training facility and a dedicated hub for grassroots basketball, creating opportunities for young people and local residents to access the sport in a professional environment.London Lions CEO Lenz Balan joined talksPORT’s Hawksbee and Jacobs to provide an update on the exciting development.“It’s still very early days,” Balan said. “We’ve had initial conversations with a number of developers and the local City Council.Khan has backed the Lions’ bid for a new home in the capitalGetty Images - Getty“Trivandi and the Sports Consultancy have been incredible and so have the Mayor who’s offered us an opportunity in London in terms of helping us figure out what the right size is and what makes sense from an economic standpoint.“We’re now working with legends to build out the financial modelling and the first phase of a feasibility study.”A growing appetite for basketball in the UKWhilst global eyes remain fixed on the star-studded NBA, there are signs of basketball’s growth across the UK and Europe.The Lions are the reigning British Basketball League champions after claiming their third title last season.That has handed them a chance to pit their wits against Europe’s best in the Euro Cup.And with things seemingly on the up for both on and off the court for the capital club, Balan believes that there is plenty of appetite for the sport in this country.Lions president Lenz Balan has lauded the growth of basketball in the UKThe new stadium has been predicted to bring a £3.4bn economic boost“That’s why being on programmes like yours is great,” he said. “If you’re a sports fan and you haven’t been to a British basketball game, the level of competition has gone way up since what you might remember.“We’ve had a number of owners who want to continue to professionalise and grow the game and us playing at the elite level in the Euro Cup is a testament to that“If you’re a basketball nerd and you really want to watch some of the best basketball in the world, come down to the Copper Box.“We play on Wednesday against Athens and then Sunday against Newcastle.”