WNBL clubs set to benefit under bid to take ownership of the exposure-starved domestic women’s competition

WNBL clubs are set to hugely benefit under a bid to take ownership of a slice of the exposure-starved league from a syndicate led by a former influential figure at NBA club the Philadelphia 76ers.

WNBL clubs will receive a slice of the revenue under a Bryan Colangelo and Dorry Kordahi led syndicate that’s aiming to take control of Australia’s oldest women’s sporting competition.

This masthead can reveal the Colangelo and Kordahi bid is pledging roughly a 10 per cent ownership in the league with distributions and voting rights to the collective of existing team license holders.

Basketball Australia will be initially funded up to $5 million for federation operations and planned emphasis on grassroots development of girl’s and women’s basketball.

The syndicate also aims to emphasise collaboration with BA, including 10 years of non-dilution of shares and financial support of the national Opals program.

Overall, the initial bid is believed to be in excess of $20 million investment into BA and the WNBL with a valuation exceeding $30 million.

There will also be an injection of funds for each team for local sales and marketing support.

Former Philadelphia 76ers President of Basketball Operations Bryan Colangelo has made a bid for part ownership of the WNBL. Photo: AP Photo/Matt Rourke.

It comes as Sydney based Australian business magnate Anthony Karam will hold a majority share of the Kordahi-Colangelo syndicate.

The NBL’s bid – led by owner Larry Kestelman and Sydney Kings majority owner Robyn Denholm – remain deep in the mix to take on the WNBL.

It’s understood the Kestelman and Denholm joint offer has support as the path forward to unify the men and women’s domestic basketball competitions.

The Basketball Australia board is regularly meeting to determine which bid will be the best option to reinvigorate the women’s league.

BA CEO Matt Scriven recently said the WNBL sale was at the “pointy end”.

Scriven has previously declared he is looking for an investor to acquire up to 70 per cent of the league, said to be valued at approximately $30 million.

Originally published as WNBL clubs set to benefit under bid to take ownership of the exposure-starved domestic women’s competition