LONDON - There was a palpable sigh of relief from British Basketball after UK Sport announced it had reversed its recent controversial decision to remove all funding and instead would now be working to determine a new allocation over the next couple of weeks.
Whilst the amount has yet to be confirmed - which does remain a minor concern - the success of the appeal which coincided with a powerful lobby from players, fans and various politicians, is a terrific boost for British Basketball.
Any reinstated funding will be on a one-year conditional basis, with the following three years' funding released only on the completion of strict performance criteria.
UK Sport made the announcement having considered the informal representation made directly to the UK Sport Board by British Basketball, who requested a U-turn on the withdrawl of funding for the 2013-2017 (Rio 2016) investment cycle.
FIBA Secretary General and International Olympic Committee (IOC) Member Patrick Baumann was part of the delegation which successfully pleaded the case, with basketball just one of just sports who convinced UK Sport to change their minds.
A delighted British Basketball Performance Chairman, Roger Moreland said: "We are absolutely delighted with the decision of UK Sport.
"They have acknowledged that we successfully presented compelling new performance data, which not only impressed the Board but made them recognise that we are potential podium contenders for 2020.
"They could see from our evidence and that supplied by Patrick Baumann from our International Federation (FIBA) that our sport has an upward trajectory in terms of both performance and participation.
"The endorsement and support of FIBA also played a crucial part in our success by demonstrating through technical information, how much progress we have made over the last seven years as well as our position globally.
"We will now enter into a dialogue with UK Sport about the actual details and level of funding as well as the support services required.
"This is a momentous day for British Basketball and everyone who is connected with the sports, whether players, fans or officials."
Reacting to the decision, Baumann added: "I am thrilled for British Basketball and UK Sport's recognition and appreciation of the very strong case we presented.
"The new funding will allow the sport to build on the progress and growth it has already made in a very short time and aim for a podium place in 2020."
The news will certainly delight everyone involved with British Basketball and not least NBA star and Great Britain marquee player Luol Deng, who felt so strongly about the issue that he wrote a letter to Prime Minister David Cameron.