Glenorchy City Council gives exclusive rights to NBL boss as push hots up

Tasmania could be about to take a huge step towards returning to the NBL with the Glenorchy City Council to enter exclusive talks with the league owner on the DEC — but it would be much more than just a basketball team.

The Derwent Entertainment Centre at Glenorchy.

GLENORCHY City Council has given the all clear to start exclusive negotiations with NBL owner Larry Kestelman that could bring much more than just a basketball team to the Derwent Entertainment Centre.

Mr Kestelman has presented a vision for a $150 to $200 million DEC and Wilkinson’s Point redevelopment of the site incorporating an entertainment venue, sports and recreation facility, retail and food and beverage spaces and accommodation, as well as public open spaces.

The two parties now have a 120-day exclusive neogition period following Monday night’s unanimous vote.

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Mayor Kristie Johnston said the proposal presented an unprecedented opportunity for council, the people of Glenorchy, and Tasmania, but would need support from the State Government.

“Council is committed to exploring this exciting proposal and to working with Mr Kestelman to deliver the best possible outcome for both the Glenorchy community and Tasmania,” Ms Johnston said.

“Council will immediately commence formal negotiations with Mr Kestelman and will bring any potential agreement back to council for further consideration.

“Importantly, there will be key requirements stipulated as part of the exclusive dealing period,

including achieving market valuation, maintaining public access to the Wilkinsons Point foreshore and road access via Loyd Road, as well as engagement with GASP [Glenorchy Art and Sculpture Park] during the process.

“Council will also conduct a consultation process, to ensure any proposal ultimately accepted by council is generally satisfactory to the community.”

Mr Kestelman made his fortune from the $230 million sale of internet company Dodo in 2013 and then went into property development.

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National Basketball League owner and property developer Larry Kestelman. Picture: STUART MCEVOY

He has almost single-handedly saved the NBL, pumping tens of millions of dollars into the competition as basketball surged again across the country.

If successful, his acquisition of the DEC would be a huge step towards Tasmania returning to the NBL for the first time since the demise of the Devils in 1996.

Ms Johnston said Mr Kestelman had made it clear his proposal was contingent upon support from the Tasmanian Government.

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“The DEC and Wilkinsons Point are important to both the region and the state, so it is crucial the Tasmanian Government is involved with any proposal for its future development,” Ald Johnston said.

“Mr Kestelman has committed to working together with council and the State Government to see what we can achieve at this significant site.

“Council is excited by the prospect of working with someone of Mr Kestelman’s calibre, and the opportunities this presents for our community.”