Wow, didn't quite see this coming.....
http://wwos.ninemsn.com.au/article.aspx?id=805482Adelaide 36ers facing NBL extinction
By James Dampney
20:18 AEST Thu Apr 23 2009
Basketball Australia (BA) are making no apologies for the strict financial requirements for teams to be part of the new NBL after stalwarts Adelaide admitted they were facing extinction.
There continues to be more questions than answers about the make-up of the new competition, which is expected to commence in October.
Deadlines keep coming and going without any news regarding teams or the competition format.
One thing known for sure is teams in the new league must have a $1 million bank guarantee, implemented by BA to prevent teams falling over, which has blighted the game in recent years.
The Sydney Kings, Brisbane Bullets, Sydney Spirit, Victoria Giants and Canberra Cannons have all disappeared over the past six years.
The 36ers, who have been part of the NBL since 1982, say the new criteria leaves them in an "untenable position".
But they are getting no sympathy from outgoing BA chief executive Scott Derwin, who said failure to find the guarantee raises "serious questions" about any team's viability.
"The financial criteria for the new league was established with input from all our teams," Derwin said.
"The guarantee was actually adjusted down from the $1.5 million originally recommended by the independent review of our sport to $1 million in order to ensure it was fair and achievable whilst still serving its intended purpose.
"Any further reduction would, however, ultimately render it as an ineffective measure for providing a level of financial stability for the new league.
"If any ownership group is unable to meet the new financial criteria, then there are clearly serious questions around the long-term viability of that team.
"Basketball simply cannot afford to allow clubs that are not rock solid financially into the new league."
While little is known about the new competition, it is expected to closely resemble the most recent model, with all teams from the 2008-09 season returning apart from the defunct Spirit.
That would leave the Melbourne Tigers, South Dragons, Perth Wildcats, Wollongong Hawks, New Zealand Breakers, Gold Coast Blaze, Townsville Crocodiles, Cairns Taipans and Adelaide in the new league.
But the Sixers concede there are now real doubts about their chances of being in the competition.
Tigers boss Seamus McPeake has expressed interest in helping Adelaide, but current Sixers owner Mal Hemmerling has grave concerns.
They consider the financial restrictions "inappropriate and unwarranted".
"Despite drawing the league's most consistently large crowds, having a 27-year history in the highest competition and at various stages being a profitable business, there are now financial impositions being required that is without precedent," Hemmerling said.
"We simply cannot move forward without certainty that we are part of a new league.
"This time of year is crucial in terms of season ticket pre-sales and sponsorship income being brought into the club.
"It is the lifeblood of any professional team.
"Gaining this income is currently impossible.
"We are working to a firm deadline of mid-May at which time, if there are no definitive answers from the league to our satisfaction, we will simply cease to be able to run an ongoing business."