The Gold Coast Blaze may be out of the National Basketball League (NBL) by the end of the day.
Blaze owner Owen Tomlinson is in Sydney desperate to secure the future of the club.
It went into voluntary administration in May with debts of more than $12 million but has since been returned to the control of its owners.
Mr Tomlinson says he has to find $500,000 and a bank guarantee by 5:00pm (AEST) to satisfy the NBL that the club can continue.
He worries about the alternative.
"It would be almost catastrophic to me because it would [end] everything we've tried to achieve over the last five or six years," Mr Tomlinson said.
Mr Tomlinson says there are two potential Blaze investors and he will meet with one later this morning.
"If it comes down to five o'clock and no one's that interested to try and help the Blaze that's it - in a nutshell," he said.
If Mr Tomlinson is successful the club is likely to restructure and share resources with a community group.
Tags: basketball, nbl, southport-4215, qld First posted July 13, 2012 08:57:55
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