Blaze future yet to be decided

Updated July 16, 2012 14:32:31

Basketball Australia is still assessing the financial viability of National Basketball League (NBL) club the Gold Coast Blaze.

The Blaze has no players and no staff but remains on the NBL competition schedule that is due to start in October.

The Gold Coast club has emerged from the voluntary administration it entered in May but is still seeking a major investor.

The Gold Coast Basketball Association (GCBA) is willing to share resources and staff.

GCBA chief executive Allan Hilzinger was on a telephone hook-up with the Blaze owners and Basketball Australia representatives this morning.

"They need to provide the evidence that the cash is available and then they do also have to provide a budget - a detailed budget - showing that is available as well," he said.

Basketball Australia says it expects the Blaze to provide more details about its plans today.

Tags: sport, basketball, nbl, southport-4215, qld

First posted July 16, 2012 14:23:29

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Blaze hopes of NBL future extinguished

Updated July 18, 2012 12:09:16

The Gold Coast has lost another national sporting club with National Basketball League (NBL) team the Blaze folding overnight.

The owners of the financially-troubled Gold Coast team have abandoned hopes of remaining in the NBL.

Basketball Australia yesterday gave it until the end of the month to provide a $1 million bank guarantee.

The Gold Coast Basketball Association (GCBA) had offered to share staff and resources with the Blaze.

GCBA chief executive Allan Hilzinger says it is a big loss to the sport.

"The Blaze have been fantastic for the NBL," Hilzinger said.

"They have been one of the big drivers and part of the reason for the NBL's growth.

"I mean the south east corridor is enormous - particularly at the grass roots."

Chris Golding was among players who had clung to hopes that the Blaze would survive.

He says he is disappointed with the way the situation has been handled.

"There's been some mixed messages come across from Basketball Australia to the Blaze and to the players and back and forth," Goulding said.

"Miscommunication I think has been a big part in this when people's livelihoods and careers are on the line.

"I don't think that can really be afforded to happen."

Hilzinger says the $1 million guarantee was too steep for team owners, Owen and Katie Tomlinson.

"I think they also felt that they didn't get the response that the NBL or the support from the NBL from their point of view that they wanted," he said.

"I think they felt they had put in so much time, energy and money that a little bit of trust had to be there as well."

The Blaze had also been asked to confirm major funding sources and working capital for next season, and to show that it can pay what it owes BA by the end of next month.

BA says the departure of the Blaze is disappointing.

BA spokesman Scott Derwin says the Blaze had advised they had a $500,000 capital investment from a mystery supporter but were unable to provide any further detail.

Mr Derwin says a mystery funding source is not adequate.

He says given the club's recent financial uncertainty, solid and detailed financial modelling was required.

Tags: sport, basketball, nbl, southport-4215, qld

First posted July 18, 2012 08:03:36

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Creditors meeting to decide Blaze future

Updated June 14, 2012 08:18:21

The future of the Gold Coast's financially-troubled National Basketball League (NBL) team is expected to be decided at a meeting today.

A deed of company arrangement will be put to creditors of the Gold Coast Blaze.

Administrator Roland Robson says it could provide funds for club employees and return around seven cents in the dollar to unsecured creditors.

"It would keep it alive - keep it functioning," Mr Robson said.

"It would provide the Gold Coast community with a sports team.

"We are quite aware a number of sports teams have come and gone over the years and I think to a degree this is a positive thing to enable the Gold Coast to have an [NBL] basketball team.

"Even Brisbane doesn't have one of those at the moment."

Mr Robson says if the deed is rejected the Blaze will go into liquidation and the team will fold.

"The assets will be sold off - the Gold Coast and Queensland will lose a sports team," he said.

"There will be no licence available from Basketball Australia.

"The result will be all assets sold and distributed in priority to secured creditors and any of the floating assets sold and made available obviously for employee creditors."

There had been suggestions a wealthy investor would come to the rescue of the Blaze but Mr Robson says no deal has been finalised.

"Discussions have been made with a number of investors," Mr Robson said.

"Those discussions unfortunately were not able to be materialised fast enough in the process in which the administration has to run.

"Unfortunately we could not get a position fast enough for the investor in that time frame."

The meeting will be held at Broadbeach.

Tags: nbl, basketball, broadbeach-4218, qld

First posted June 14, 2012 08:15:53

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Bogut's Olympics future hinges on ankle scans

Updated March 16, 2012 15:40:39

Australian basketball star Andrew Bogut's Olympic Games fate is set to be decided in the next three weeks.

Scans on the ankle Bogut broke in late January will determine whether he is any chance of playing for his new club Golden State Warriors this season, and his hopes of representing his country in London.

Bogut, who was traded from Milwaukee to Golden State in a blockbuster move this week, admits it will be a tough ask for him to play in the NBA this season regardless of how well his injury is healing.

A favourable scan means he should be fit in time for London.

But any complications, and Australia's highest profile basketballer faces an uphill battle to be at his peak for July's Games.

Regardless of the scan results, Bogut believes the Warriors are more likely to hold him back for 2012-13 rather than risk him in a handful of late-season games which may not matter.

"The last thing they'll want to do is rush me back to play in a couple of games," Bogut said.

"I've got to have scans at the eight-week point after I broke my ankle.

"If the scan goes well, and we make the playoffs, I could definitely be back.

"If the scan says we want you in the (moon) boot for another three or four weeks or they don't want me resuming too quick, it will come down to missing the season."

Bogut admits a season in which he has dealt with the NBA lockout, personal issues which forced a mercy dash to Australia once the season started, his latest injury and now his trade meant he had not thought much about the Olympics.

But if given the medical all-clear, Bogut is confident he can prepare solidly for London even without having played since January 25.

"It's a tough question to answer right now. To be honest, I haven't given it a whole lot of thought," Bogut said of whether he would be fit for Australia's Games campaign.

"Without talking myself up, I think I'm as professional as they come.

"I have my own workout and training facility in Melbourne, I'd be rehabbing and training like I would for any other event, and we have enough lead-up games to the Olympics to get ourselves ready."

Bogut completed medical checks with the Warriors on Thursday, and met his new team-mates and key club officials.

He will be presented to Warriors fans at the team's game on Saturday (AEDT) - against his old club Milwaukee.

Bogut joined the Bucks in 2005 - the first Australian to be selected at number one in the NBA draft.

The 27-year-old said he had experienced mixed emotions since finding out about his move, but was now relishing the prospect.

The California-based Warriors are thrilled with snaring Bogut, and are likely to build their team around him once he returns to full fitness.

"When I first heard the news I was excited. It's a franchise on the way up, a new city to live in, it's only one flight from Australia rather than two," he said.

"Then the next day when I started packing, I was sad because the Milwaukee Bucks are all I know in the NBA.

"Saying goodbye to the city where I spent my whole career, to the fans, it was tough.

"I've made a lot of great friends there, but at the same time, I'm excited about the journey that lies ahead."

AAP

Tags: sport, basketball, australia, united-states

First posted March 16, 2012 15:40:39

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