Latest News

Back to Latest News back

 

Investor acquires controlling stake in the National Basketball League

Investor acquires controlling stake in the National Basketball League
June 2, 2015

Melbourne businessman Larry Kestelman has acquired a controlling stake in the National Basketball League (NBL).

Kestelman, the co-owner and chairman of Melbourne United, last week committed to pumping "over $6 million" into the league through his LK Group.

That money will go towards marketing and staffing, with Kestelman, who becomes Executive Director of the NBL, and the league’s independent Chairman Graeme Wade set to form a new board.

Following the acquisition, financial terms of which have not been released, Kestelman will step down from his role as Chairman of Melbourne United, although he will remain a co-owner of the team.

In a statement, Kestelman announced “I have a strong team running the club but now my interest in Melbourne United is just going to be as an owner. I will now be dedicated to making the league successful.

“We’ve seen the popularity of basketball around the world, and it is my vision to bring the sport back to where it belongs in Australia, as one of the leading sporting codes at both a grassroots and professional level.

“It’s going to be my job to reignite the passion behind the NBL and I stand ready for the larger challenge of achieving success for all the clubs.

“In this business of sports entertainment we need to set the league up as a more commercial and professional organisation across the board.”

21st May 2014 - MELBOURNE TIGERS NAME CHANGE PROVES UNPOPULAR WITH FANS

2nd May 2013 - BASKETBALL AUSTRALIA AND NBL TO EXPLORE DE-MERGER

 


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Hadley/Series Australia Pty Ltd

Hadley Australia and Series Australia Pty Ltd are the leading quality theatre chair manufacturers in the southern hemisphere. The businesses work closely with architects, interior designers and…

read more

Arts / Culture / Design / Entertainment / Venues

 
 
 

State Wide Pool Services

Known as Hydrilla since September 2020 - see www.ausleisure.com.au/suppliers/hydrilla-pty-ltd

read more

Aquatics

 
 

Hydrocare Pool Services

Hydrocare Pool Services Pty Ltd offer 30 years of experience in aquatic industry features, products and water treatment. Hydrocare Pools has undertaken water treatment for aquatic centres and…

read more

Aquatics / Attractions / Play / Recreation / Technology

 
 

AlphaFit

AUSTRALIAN MADE. FIT FOR PURPOSE. Based on the Gold Coast, AlphaFit is a leading manufacturer and supplier of Australian gym equipment specifically for the commercial, strength and conditioning,…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

APT Asia Pacific Pty Ltd

APT (Advanced Polymer Technology) is the leading global manufacturer of polyurethane-based materials, acrylic coatings and synthetic turf products for sporting and recreational applications. From…

read more

Environment / Sport / Surfaces / Technology

 
 
 

TJS Services

TJS Services is a leading national facility services provider. We deliver quality cleaning, maintenance, construction and facility management services to over 1,500 sites Australia wide.  Our…

read more

Hospitality / Retail / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business