Obviously in the short-term, it is about exposure and getting an audience. They're two massive populations, so you only need a small penetration to exponentially increase the audience.
Then I would imagine it's a twofold approach:
One, trying to get major sponsors with an international presence. Eg something like "The Qantas NBL" (or HSBC, or Fosters, or whatever.) Somebody that will actually pay decent coin to have their brand associated with the league. This could even benefit the teams directly, as they may be able to get sponsorship beyond the local firms that seem to dominate at the moment.
2nd, once you grow that audience, its possible that some networks might actually buy the product to broadcast or stream. It's not going to be "mainstream" but again it doesn't have to be. A deal to use the NBL as filler on their 9th sporting channel (with a few hundred million viewers) is probably still worth more than foxtel.
It's good that at the moment we have LK to put the money in, to develop the product and build the audience. Hopefully it pays off.