A dismal spell ensued and over the next decade the team wouldn't finish outside of the bottom three, but with the removal of the promotion/relegation system between the BBL and Division 1, this had little consequence.

The lack of fortune and an aging venue prompted the franchise to look at relocating and the team found a suitable, yet temporary solution in the neighbouring town of Watford.

Lions' on-court performances were an instant improvement and the franchise began a slow but noticeable turnaround, reaching the semi-finals of the National Cup and also the end-of-season Play-offs for the first time in eight seasons in 2000.

After a hugely successful run, the franchise reached its first major final in 2002 with an appearance at the SkyDome Arena in the BBL Trophy.

From then on, the Lions remained a competitive force in the league, often qualifying for the post-season Play-offs (though having little impact on the outcome), and an appearance in the BBL Cup Semi-final in 2005 was considered to be a major landmark.

The veteran team performed sensationally and by the Christmas break they were well in contention for the league crown, resting in second place behind title-rivals Newcastle Eagles, who coincidentally they beat in their first-ever BBL Cup Final appearance at the National Indoor Arena (NIA), on 13 January 2008.

[4] After finishing 4th in the league (19–14), Lions qualified for the post-season Play-offs with a seeded home-court Quarter-final tie against Scottish Rocks.

The home team eased past the Rocks, 105–93, with the game filmed live in front of Setanta Sports cameras.

With the demolition of Lions' current home, Bletchley Centre, scheduled for November 2009, the lack of an alternative venue raised question marks as to the future of the franchise remaining in Milton Keynes.

The disastrous season came to an abrupt end in April, with a 14–19 record and 9th-placed finish meaning the Lions missing out on the end-of-season Playoffs.

[6] The Lions played their last game in front of a packed Bletchley Centre crowd on 18 December, with a dramatic 98–97 victory over Guildford Heat.

[7] After Middleton Hall decided upon changes that would no longer make it suitable for basketball, the Lions were forced yet again to search for another new home venue, for at least the 2010–2011 season.

[8] The club secured a three-game lease for an out-of-town venue at Stoke Mandeville in Aylesbury to begin their 2010–2011 campaign, and decided upon renovating a site in the centre of Milton Keynes to host home games for the duration of the season.

[12] Despite now boasting a fantastic full-time basketball venue, which featured two permanent courts – allowing the teams throughout the Lions banner to train more than ever before, the club missed out on qualifying for the play-offs.

One of the few highlights of the season was the play of American guard Demarius Bolds, who was among the league leaders in several statistics as he was named Lions' Player of the Year.

[15] Departure from Milton Keynes Following the conclusion of the 2011–12 season, the owners of Prestige Homes Arena triggered an opt-out clause in the lease to let the building as a retail outlet.

A planning application to change the building from a sporting facility to retail unit was approved by Milton Keynes Council,[16] thus leaving the club without a home venue for the third time in as many seasons.

[20] Questions also remained as to the future of the Milton Keynes Lions College Academy which enabled young adults to attend basketball practice five days a week whilst furthering their education – several of whom had gone on to sign professional deals with the first team.

Liverpool already had a BBL franchise – the Mersey Tigers, however, they were in financial trouble so Macaulay proposed merging the two teams and a 50/50 ownership.

On 8 August 2012, an article in the Milton Keynes Citizen newspaper revealed the Lions would be moving to London for the 2012–13 season, taking residence at the Copper Box Arena in the Queen Elizabeth Olympic Park.

The final, played in front of 14,700 at The O2 Arena, was won by Newcastle Eagles, who completed the clean sweep of British basketball titles.

Joe Ikhinmwin, the only senior player retained from the previous season's run to the play-off final, was made captain.

A 9–1 start to the season in all competitions suggested great promise, but the departure of Hall after only 3 games and a season-ending injury to Jamal Williams disrupted the team's form.

Reinforcements arrived in the shape of Navid Niktash and Zak Wells but the early season form couldn't be recaptured.

2018–19 season The team won its first silverware since rebranding as London Lions, beating Glasgow Rocks in the BBL Cup Final.

[32] In August 2024, it was announced that Lithuanian tech company Tesonet, shareholder of BC Žalgiris as well, acquired the club from 777 Partners.