UK Sport have cut all funding to elite level British basketball for the second year running following their annual investment review of Summer Olympic and Paralympic sports.
The decision comes after £8.6 million was pumped into the sport in the build up to the 2012 London Olympics.
Roger Moreland, Performance Chairman at British Basketball said: "We are still on the road to Rio but we now have to qualify for EuroBasket 2015 with our hands tied behind our back."
It is the second time in the last two years the sport has had its funding completely withdrawn however last year's decision was overturned following a lot of protesting from key sports personnel, but that looks unlikely to happen again this year.
NBA Commissioner Adam Silver described the London Olympics as a "lost opportunity" and was amongst many who questioned why the sports authorities weren't backing basketball.
Basketball was one of many sports played at London 2012 to have their funding completely withdrawn, along with handball, table tennis and wrestling.
Meanwhile, Paralympic sports such as goalball, visually-impaired football and wheelchair fencing also had their funding cut.
There will, like last year be a chance for the sports to appeal the funding withdrawal, but in the case of basketball, it is unlikely the decision will be overturned again.