Basketball's Euroleague Final Four will be held in the English capital of London in 2013 and 2014 to develop British basketball, Euroleague president Jordi Bertomeu said Saturday.

The venue will be the O2 in east London, where Britain will field its first Olympic basketball team since 1948 when the Games come to London in August.

“We want to support the development of basketball in England. London has never hosted such big basketball competitions before.”

Bertomeu expressed disappointment at Britain’s lack of Euroleague representation.

“I think in two or three years we will make things right,” he said.

The 2012 Euroleague final will take place in Istanbul on Sunday, with Russian team CSKA Moscow facing off against Greece’s Olympiacos.