Dragons pull out of new NBL

The new National Basketball League appears to be falling apart before it has even
begun with last season's NBL champions the South Dragons confirming ON Friday night
they would not be participating in the competition.
The Dragons, mentored by six-time NBL championship winning coach Brian Goorjian,
issued a statement saying they weren't closing down but "instead choosing to sit out
the proposed new season with an eye to competing in the future."
It comes after it emerged that teams from the key markets of Sydney and Brisbane
would be unlikely to feature in the new league, slated to start in October.
"While comfortable with the new structure of basketball under the Basketball
Australia board, the Dragons board of directors believes that more time is required
to develop the league as a commercially viable entity," the statement read.
Dragons chairman and co-owner Mark Cowan, who just two days ago said he was
"positive" and "optimistic" about the new league, appeared to change his views on
Friday.
"The Dragons aspire to play at the highest level to the highest standards in a fully
professional league," he said in a statement.
"This is a sad day for our club, but in many ways it's the only way forward for a
sport which needs some time to reinvent itself."
It's another spanner in the works for Basketball Australia (BA) which was expected
to reveal which teams had been granted entry into the revamped NBL next week.
Every team in the new competition was required to have a $1 million bank guarantee,
with several clubs, including the Adelaide 36ers, baulking at the figure.
It was understood the tough financial restrictions, introduced following the
high-profile collapse of powerhouse clubs Sydney Kings and Brisbane Bullets, had
already ruled out teams from the two major capitals.