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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