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Former NBA stars purchase ownership stake in South East Melbourne Phoenix
The potential of the National Basketball League (NBL) is gaining growing recognition with the announcement that three former stars from North America's NBA have purchased an ownership stake in the league's newest franchise, the South East Melbourne Phoenix.
The investment in the team from Zach Randolph, Josh Childress and Al Harrington is seen as a significant endorsement of the NBL and its status as one of the best leagues in the world outside of the NBA.
The trio will attend Phoenix games during the season and will also support the team through a range of initiatives.
Welcoming the investment, Phoenix owner, Romie Chaudhari advised "we are thrilled to welcome Zach, Josh, and Al to the Phoenix family.
“I have worked with them all in various capacities in the past, and they have the qualities I want in partners for this venture.
“The basketball audience in Australia is huge and South East Melbourne is the most significant basketball region in the country – Australia’s basketball heartland.
Randolph, Childress and Harrington have all enjoyed successful careers in the NBA, with Childress and Harrington also playing in the NBL.
Randolph, who has played 18 seasons in the NBA, stated "this is a great opportunity for me to work with Romie and be involved in the NBL.
“I really took notice of the league after seeing players like James Ennis and Terrance Ferguson come through the NBL and make their marks in the NBA.”
Childress, who played in the NBA for eight seasons and the NBL for three, is excited to now be part of an ownership group, adding “having spent three seasons playing in the NBL, I’ve seen the strides the league has made and I felt compelled to be a part of that growth.
“I believe there’s a tremendous opportunity for the South East Melbourne Phoenix to compete at a high level in this league and I look forward to supporting the team this season and beyond alongside Romie, Al and Zach.”
Image: South East Melbourne Phoenix in pre-seaon action in China. Courtesy of South East Melbourne Phoenix/Facebook.
13th May 2019 - Basketball Australia and NBL agree landmark partnership
15th March 2019 - Sydney Kings name new Chief Executive
20th February 2019 - NBL breaks crowd records through 2018/19 season
24th November 2018 - Melbourne United reveals new ownership structure
27th September 2018 - NBL renews partnerships with Chemist Warehouse, Europcar and ESPN
22nd August 2018 - Total Sport & Entertainment takes ownership position in Sydney Kings
24th May 2016 - NBL looks to develop China-based franchise
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