Adelaide Lightning deadline statement

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Basketball Australia remains optimistic regarding the future of Women’s National Basketball League (WNBL) team, Adelaide Lightning. The deadline to secure the financial future of the iconic team has been extended to next week. Negotiations with interested parties are on-going and not yet finalised.

A $150,000 target was set by Basketball Australia and Basketball South Australia in order to mitigate a budget shortfall which, unless met, would result in Adelaide Lightning being unable to compete in the upcoming 2015/16 WNBL season.

This additional funding is supplementary to the investment by Basketball Australia and Basketball South Australia to keep Adelaide Lightning on the court.

A number of constructive leads have emerged over the past fortnight and are now being actively pursued.

“While Adelaide Lightning is not yet out of trouble, I am hopeful that a funding solution is close,” said Basketball Australia CEO, Anthony Moore.

“It is my sincere hope that Adelaide Lightning, with its proven record in providing a pathway for South Australian basketballers, has a future in the WNBL.”

Basketball South Australia CEO, Mark Hubbard stressed that securing external investment would mean that work could begin immediately on the long-term future of Adelaide Lightning.

“Should we be successful in finding commercial partners for the coming season, work will need to get underway for the years ahead,” he explained.

“Short-term stability will be a conduit for these discussions.”

Organisations looking to invest in the team are urged to get in contact with Mark Hubbard.