Adelaide Lightning officially saved as coach Chris Lucas re-signs for three years

The Adelaide Lightning has officially been saved from the threat of extinction with the club’s new owner to be unveiled today and backed by the news coach Chris Lucas has re-signed for the next three years.

Lauren Nicholson and Stephanie Bilcavs after the Lightning won game two of the WNBL grand final series against Canberra. Picture: Kelly Barnes (AAP).

THE Adelaide Lightning has officially been saved from the threat of extinction, with the club’s new owner to be unveiled today and coach Chris Lucas re-signing for the next three years.

The basketball team – which lost this year’s WNBL grand final series against Canberra – had been staring at an uncertain future for the past four months, after former owner Grant Kelley said he was handing back the licence following consecutive losses of $500,000 a season.

Businessman and former Adelaide Lightning chairman Bruce Spangler has led a consortium of private investors to save the team. He officially accepted the licence from Mr Kelley and Basketball Australia last Thursday.

Mr Spangler initially stepped in to save the team when Basketball SA relinquished the licence in 2016 before Mr Kelley, through his group Adelaide Basketball, took over for the past two seasons.

“We are thrilled to take over the licence of South Australia’s most successful sporting team of 2019,” Mr Spangler said.

“We are confident we have a good number of backers and people to develop a sustainable, long-term model to ensure Adelaide Lightning’s future.”

Mr Spangler said it was “of upmost importance” to retain Chris Lucas as head coach.

“Chris has played an integral part in returning Lightning to its former glory, taking the team from last place to grand finalists in three years.

Lightning coach Chris Lucas has re-signed for three years. Picture: Kelly Barnes/AAP.

“Another important piece of the puzzle was gaining support from sponsors, and we are pleased to announce the Motor Accident Commission has recommitted and we have also signed Titanium Security as a new sponsor.

“I would like to thank MAC and the Minister for Recreation, Sport and Racing, Corey Wingard, for their ongoing support, as well as to Danny Grotegoed from Titanium Security.”

Adelaide Basketball chief executive Ben Kavenagh said he was pleased to pass the baton to Mr Spangler’s team after what he considered a job well done.

“Grant’s (Kelley) contribution to the Adelaide Lightning has been significant. He has personally invested more than $1 million into the club,” Mr Kavenagh said.

“Grant had a vision for the team and to see that come to fruition is amazing. The whole organisation is so proud of the team’s efforts this season and it’s time to now hand over the responsibility to a new group to keep the legacy going.”

The Rachael Sporn Academy, which last year produced Adelaide Lightning’s teenage recruit Ruby Porter, will continue as a talent pathway under the new ownership group.