Image: Townsville Crocodiles
The NBL is down to six teams after the Townsville Crocodiles entered voluntary administration overnight.
The Crocs are the second team in as many weeks to call in administrators, after the Wollongong Hawks entered a voluntary arrangement on March 1, citing a budget shortfall of $1.8 million.
Townsville had been thrown a lifeline in September 2013, after owners returned their licence to the League, and group of supporters raised enough funding to keep the Crocs afloat for another season in a community-owned model.
In a statement released last night, the NBL stated that it “has worked closely with the club over the past few months and it was decided this process would grant the club the greatest flexibility to explore their options”.
The League noted that the Crocs “have a strong premise for the 2015/16 season, having already secured funding for a new court at the Townsville Entertainment Centre”, however did not confirm that Townsville would be involved.
Crocodiles Chairman Darren Finlay said in a statement that it was “a truly devastating decision to make”, however remained hopeful that Townsville would participate in 2015/16.
“This is a necessary and important step in the process of rebuilding the Crocodiles for the future and provides some breathing space whilst the NBL finalises its plans for the 2015/16 season,” Mr Finlay said.
NBL Chairman Graeme Wade also expressed hope for the future of the Crocs, citing the Cairns Taipans’ return from being placed into voluntary administration in 2008/09.
“We know this is achievable. In recent years the League has worked closely with the Cairns Taipans and they have capitalised through strong management and community engagement on financial support from the NBL, Mr Wade said.
“The Taipans have just finished one of their most successful seasons ever, with their Finals tickets selling-out in a matter of minutes and they are not the only club to have achieved this feat.”
