That said absolutely frak all.

So.. Nothing has changed with the coach. They may go into private ownership but they may also go down the community model route. The Arena is still up for sale and discussions are under way for the sale.

Another words, as you were.

OP isnt me BTW - but what more can you expect it to say?

While we may all like to know everything that happens in the board room of the club - or other businesses for that matter - its not really any of our business.

The club is privatly owned and is as per the release exploring some options with other parties with regards to ownership. If things progress then one would think that the new owners would want to have input with regards to on and off court staff so there is no changes that can logically be made while these discussions continue.

The best thing that can happen is the club is sold. This management group have shown that while they started with the best of intentions they no longer care about the success or destruction of the club.

A very wise move allow the organisation to allow the 3 year plan to come to fruition.

I don't agree, Loco.

They've made clear statements that say more than has been public before: preferred ownership model is membership model (community) but they are happy to let Cole take out majority stake if due diligence is okay.

explicitly stated that they view the team's performance hasn't been good enough - people have been critical that the board hasn't said anything about this and this is a clear statement that they're not happy with the results this season, to date.

Stated clearly that Clarke is here for the rest of the season - no commitment beyond that. This gives the certainty that posters here have been asking for - whether posters like the situation is another question but the board has given certainty.

Unequivocal statement that they expect to be playing at the Arena for the next few seasons and that they base that view on discussions with potential owners. Again, that could change when the ownership situation is settled but they've made the board's view clear and the basis on which they've formed that view.

While it sounds cooshy and wonderful, i cant see another group buying the team, its players and a stadium.

The Ken Cole offer seems to good to be true, in fact it almost reminds me of the days when Ansett Mark II were in place. Remember Lindsay Fox and Solomon Lew's promise to bring the airline back to its glory days? What glory days, it went ass up and never recovered.

While they are two different kettles of fish, I just dont see how words will make something happen.

I think if SOS decide this is their last year, then wave goodbye to basketball. Its sadly very much dependent on who owns the stadium

But who would buy the Club?

When the SOS was formed I was invited to invest in the group by a member who I won't name for privacy reasons. In the end I didn't join the group, but I informed the member who I liaised with that I would be interested if there were more substantial details provided with a better business plan and kept my powder dry with an option for future investment, albeit at a possibly higher buy in price.

This member had his head screwed on right and listed a number of business ideas to move forward. Sadly a number of these have not come to fruition.

For example, one idea that this member has was to engage the basketball community via a levy or the like to basketball players. This would provide some financial base for the club as well as get the community linkages required to build and develop the supporter base. While the levy may have only been $20/player and the revenue relatively low, it would have been the start of community involvement.

In assessing the proposal I discussed the matter with a business associate who is in management in an organisation with a another sport and who had involvement with the Sixers and the NBL. There were a few gaps identified and opportunities for improvement that were fed back to the member. Most of the issues we identified we actually NBL related and not Sixers related. There were some structural issues that the NBL needed to address.

However, having said that, the business model proposed to us still relied on some optimistic numbers. We noted that the key to the financial model of the club was obviously creating a passive income stream either coming from asset utilisation, or from the governing body in the form of dispersement of TV rights, or sponsorship funds similar to what the AFL do. Sales of merchandise etc would be the icing on the cake.

After deliberating over the proposal, I declined, but I still have a lot of respect for the men who formed the SOS and who took on that risk.

Sadly, owning an NBL club is a high risk investment with little or no return. The NBL is perhaps the only national sporting league where the path is littered with former clubs.

Definitely a valid viewpoint PeterJohn. I'm not sure what else I expected to hear to be honest.

PeterJohn, +1.

Skud, to say owners don't care about the club is seriously offensive.

Isnt Cole terminally ill? How would this affect his buy in?

Spoke to Cole at all star game, he's very keen on buyin the club and has some great ideas on turning it around