Scott Derwin

Interim Chief Executive Officer of Basketball Scott Derwin has issued the following statement regarding the Sydney Spirit National Basketball League team:

“The League office was informed by Sydney Spirit owner Greg Evans on Saturday that the team was in a perilous financial position and has indicated that he was planning to put the team into administration,” said Derwin.

“We have since been seeking urgent talks with Evans to ascertain what, if anything, can be done either to help him maintain the team in the NBL for the remainder of the season, or to find a buyer for the Spirit’s license who could continue the club’s on-going operations.”

“We have also opened up dialogue with a number of individuals who had previously shown an interest in investing in a Sydney-based NBL team with a view to getting them involved in saving the Spirit if at all possible.”

“At this stage, it is simply too early to tell if there are grounds for optimism as to the team’s future, but we are facing the very real prospect that they may not be able to see out the remainder of the 2008/09 season. We expect to be able to make a further statement on this issue, and how it will impact the other nine teams in the competition, prior to the Spirit’s next scheduled home match against the South Dragons on Saturday night.”

“This issue, along with the other recent issues surrounding other former NBL clubs, clearly illustrates the reason why the standards for the ‘New NBL’ will include far more stringent criteria in terms of ownership guidelines and financial guarantees when it is launched in season 2009/10.”