The aim of this study is to contribute to a better understanding of the strategic dilemmas faced by non-profit sport clubs, examine how the various stakeholder groups influence them, and test whether the influence of the municipality affects their organisational performance. Data for the study were collected from a survey of 73 basketball clubs' top managers from four South-East European transition countries. The findings show that private sponsors are the most influential stakeholders in top quality clubs, while volunteers, the municipality, the local population and basketball federations exercise greater power in the strategic development process of lower-division clubs. The study also confirmed that clubs where the municipality has a stronger strategic influence are less successful in terms of sport-result and financial indicators, which is partly a consequence of their specific strategic focus.