According to Australian Sponsorship News, Basketball Australia chief executive Larry Sengstock said the financial backers of the revived Sydney team wanted to remain anonymous until the team is properly launched.
It is reported that one former owner, Ken Saye, chief executive of loans business Mortgage House, is one of those involved. TVNZ reports that the franchise will again take on the name the Sydney Kings, once one of best-known brands in Australian sport.
The NBL competition is demanding from teams entering the league in 2010 a bank guarantee of A$1 million and working capital of A$500,000. Clubs will also be expected to create links to the local community and contribute to the growth of grassroots basketball.
The eight other teams entering the league this year are the Hood Sweeney Adelaide 36ers, Skytrans Cairns Taipans, Gold Coast Blaze, OAMPS Melbourne Tigers, Burger King New Zealand Breakers, Perth Wildcats, Townsville McDonald’s Crocodiles and Wollongong Hawks.
