Investment consortium completes acquisition of WNBL competition

An investment consortium comprising of the Wollemi Capital Group Syndicate and the National Basketball League (NBL) has announced the completed of its acquisition of a majority interest in the Women’s National Basketball League (WNBL).

Finalised as of 14th November, the consortium will assume control of the WNBL on 2nd April next year with Basketball Australia retaining a minority shareholding.

Announcing the acquisition, the consortium advised that the new agreement marks “a new era for women’s basketball in Australia” and that the WNBL “is poised for an exciting new chapter … setting the stage for unprecedented growth, investment and opportunities in women’s basketball.

Wollemi Capital Group founder, Robyn Denholm advised “women's basketball in Australia boasts a remarkable legacy and an even more promising future. We are thrilled to play a leading role in shaping its next chapter, providing the support and investment needed to elevate the sport for decades to come.

“There is significant work ahead to transform the League into the platform that our incredible female players, clubs, fans, and everyone involved truly deserve.”

Wollemi Capital Group Chief Executive, Victoria Denholm noted “we want the WNBL to be a sporting powerhouse, reflecting basketball’s position as one of the most popular participation sports in Australia.

“Our league is home to some of the most talented athletes with inspiring stories. We are committed to amplifying these stories and elevating women’s professional basketball, ensuring it reaches new heights both on and off the court.”

NBL owner and Executive Chairman, Larry Kestelman added “the WNBL is Australia’s oldest professional women’s sporting league and the pinnacle of women’s basketball in this country.

“It deserves to be showcased on the same level as other elite competitions. This acquisition unlocks an exciting new era of growth, visibility, and opportunity for players, fans, and the sport as a whole.”

NBL Chief Executive, David Stevenson went on to say “our sport is at its most powerful when it is united. Aligning the women’s and men’s competitions creates a fully connected ecosystem that will drive growth.

“The WNBL is home to exceptional athletes who are role models and heroes, and we are excited to partner to build a platform that celebrates their achievements while connecting with grassroots basketball to inspire the next generation.

“We will work to deliver a stronger, more competitive League that allows players to perform at their best while expanding the WNBL’s reach to larger audiences. This is about building deeper connections between the League and the community, growing the sport at all levels, and creating a brighter future for women’s basketball in Australia.

“I also want to thank the ABPA, the players, clubs, partners and key stakeholders for their support and cooperation.”

Basketball Australia Chief Executive, Matt Scriven also explained “we're at an exciting stage of the long-term vision of the WNBL and we have worked extensively with the ownership consortium to ensure that the growth and aspirations of the League will be supported into the future.

“The WNBL continues to attract world class talent and the level of commercial, attendance and audience engagement so far in season 24/25 demonstrates the opportunity ahead. We will continue to work closely with the consortium in ensuring that the momentum of the WNBL continues beyond the transfer in April next year.”

The NBL will collaborate closely with Basketball Australia, clubs and stakeholders, throughout the 2024/25 WNBL season to ensure a smooth transition before assuming operational control in April 2025.

Image: Teams at the 2024/25 WNBL season launch.