The Future of the National Basketball League is in dire straits after two of the league’s thirteen teams failed to renew their licenses to compete in the 08/09 season.
Foundation clubs, the Sydney Kings and Brisbane Bullets, will not take part in the upcoming season which commences this September.
After failing to pay debts of around $1.5 million, Tim Johnston, owner of the Kings, was stripped of his team’s license.
In a desperate attempt to keep the team alive, two separate bids were made to renew the license of the club.
However, interim NBL Chief Executive Officer Chuck Harmison confirmed on Thursday that both bids had failed to transpire before the extended deadline of June 30.
“The first bid withdrew due to concerns about actually being able to get the logistical support structure for the team in place in time for the season start on 13 September. The Cousens-Kordahi (second) bid failed when their major backer, who was due to provide over one third of the capital the team needed, failed to materialise.”
But the Kings won’t be the only missing team in the league next season.
Bullets’ owner Eddy Groves announced in March that he would sell the club after running into financial difficulty with his childcare empire, ABC Learning Centres.
After the sale of the club to Queensland businessman David Kemp fell through, Groves returned the clubs’ license to the NBL.
Basketball legend and commentator Steve Carfino, who played for Sydney in their inaugural season of 1988, was saddened by the loss of the Kings.
“To see the Kings crumble little by little over the last few years is quite disappointing,” Carfino stated. “It’s sad news.”
Carfino believes the league needs to formulate a new business model in order to remain afloat.
The NBL will potentially tackle the loss of its major sponsor Hummer as well as its deal with Fox Sports, putting the competition at risk of collapse.
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