NBL Owner Larry Kestelman Eyes Potential Purchase of WNBL in Landmark Move

The landscape of Australian basketball could be set for a major transformation as Larry Kestelman, the owner of the National Basketball League (NBL), is exploring the possibility of acquiring the Women’s National Basketball League (WNBL) in a revolutionary move to unify the sport.

Unlike other major sports in the country, Australia currently maintains separate ownership for its elite men’s and women’s domestic basketball leagues, with Basketball Australia (BA) overseeing the WNBL while Kestelman owns the NBL.

Under Kestelman’s leadership, the NBL has seen remarkable growth, attracting over one million fans to games this season for the first time since 1996. However, despite basketball’s increasing popularity in Australia, seven out of eight WNBL teams operate at a financial loss.

BA has shown openness to potentially changing the governance structure of the WNBL, with discussions about a possible sale of the league currently underway. It’s important to note that any transfer of ownership is unlikely to occur before the renewal of the WNBL players’ collective bargaining agreement in April.

The NBL has expressed interest in acquiring the WNBL, viewing it as a strategic long-term investment. While NBL CEO David Stevenson declined to provide specific details on ongoing talks, he emphasized the benefits of integrating the two leagues, highlighting the growth opportunities that collaboration could bring.

Simultaneously, Geelong United Basketball has teamed up with a private investor group to purchase the license of the Melbourne Boomers, a WNBL franchise. The proposed acquisition, pending BA’s approval, would see the team rebranded as the Geelong United Boomers, signaling a potential shift in the league’s landscape.

One key consideration in the sale process is BA’s preference for maintaining two teams in Melbourne for broadcasting purposes, with negotiations ongoing to determine the future structure of the WNBL. The potential sale of the Boomers’ license has been complicated by the broader discussions surrounding the league’s ownership.

The buyers in Geelong are confident in their ability to turn a profit quickly by following the successful model of the Townsville Fire, a WNBL team. By leveraging a smaller and more cost-effective venue like The Arena initially, the Geelong United Boomers aim to establish a sustainable financial foundation before transitioning to a proposed new stadium in Waurn Ponds.

The proposed arena at Waurn Ponds was initially part of the plan for the 2026 Commonwealth Games in regional Victoria, but the state government’s decision to cancel the project due to escalating costs has redirected the focus towards alternative uses, potentially including a new home for the Geelong United Boomers.