Successful Melbourne-based businessmen make bid for a slice of NBL’s Phoenix

A collection of high-profile business people are in talks to join ownership of the South East Melbourne Phoenix, in what would be viewed as a coup for the club.

A group of successful Melbourne-based businessmen have made a bid for a percentage share of the South East Melbourne Phoenix in what would be viewed as a coup for the club.

CODE Sports can reveal a collection of high-profile business people are in talks to take on a non-controlling minority of the NBL franchise.

It’s understood the collection of businessmen have already raised millions, but their slice in the club will be dependent upon the agreed sale value.

If the bid is approved, the managers of the business group will also become a meaningful part of the Phoenix board.

The Phoenix could have a new group of owners join the club. Picture: Josh Chadwick/Getty Images

Rivals Melbourne United operate under a group of local businessmen – a model which has proven to be successful.

Phoenix majority owner Romie Chaudhari confirmed he reached out to a host of local businessmen in an attempt to grow the club and potentially attract overseas investors.

Chaudhari told CODE Sports he has always shown a willingness as the Phoenix’s leading owner to find “value adding investors” to join the club’s family.

South East Melbourne Phoenix owner Romie Chaudhari. Picture: Phoenix Media

“So, I’m always having conversations with high calibre potential investors that may want to come on the journey with me,” Chaudhari said.

“I felt having a strong, competent and local ownership group would be better to put us in a position of eventually attracting a larger US investment.

“It would give the US investor greater comfort in having an entrenched local ownership presence in place.

“It was all about building on the foundation we created, strengthening the direction of the club.

“Nothing more I can say as these kinds of conversations are of course confidential and never “done” until they are done.

“The fact that I am hearing of this means that there are investors that can see how much potential this league has if there is a better model, one that creates true financial alignment between teams and the league. Teams will be worth much more with better governance.

“Integrity and transparency, as evidenced in all the best leagues in the world, will attract more investment and enable better long-term sustainability.”

The Phoenix already possess one of the NBL’s most high-profile ownership groups led by Australian tennis star Nick Kyrgios and a collection of current and former NBA players, including John Wall, Zach Randolph and Aussie Dante Exum.

South East Melbourne will enter its seventh season in franchise history in NBL26. The club is yet to win a championship, with two fourth-placed finishes the team’s best result.

In other news, NBA prospect Malique Lewis has withdrawn his name from the 2025 NBA Draft and will return to South East Melbourne as a Next Star for NBL26.

The 20-year-old played an integral role in the Phoenix’s top four finish in 2025 and will have a major say in the club’s hopes of claiming their inaugural championship next season.

Malique Lewis will return to the Phoenix. Picture: James Worsfold/Getty Images

Lewis, who hails from Trinidad & Tobago, will now set his sights on nominating for the 2026 NBA Draft.

“I’m really happy to be back in the Heartland and am excited for a big season ahead,” Lewis said.

“As a team, we had some good success last season but fell short of our ultimate goal. I’m looking forward to giving my all for the South East Melbourne fans again and having an even better season, both individually and collectively.

“As a team, we had some good success last season but fell short of our ultimate goal. I’m looking forward to giving my all for the South East Melbourne fans again and having an even better season, both individually and collectively.”

Originally published as Successful Melbourne-based businessmen make bid for a slice of NBL’s Phoenix