NBL and Wollemi Capital Secure Majority Stake in WNBL

The National Basketball League (NBL) and Wollemi Capital Group have finalised an agreement to acquire a majority interest in the Women’s National Basketball League (WNBL). This transition is set to commence on April 2, 2025, following the conclusion of the 2024/25 WNBL season.

Under the new ownership structure, the consortium will assume control of the league, with the NBL operating the WNBL. Basketball Australia will retain a minority interest, ensuring continuity and collaboration within the sport’s governance.

Robyn Denholm, founder of Wollemi Capital Group and Chair of Tesla, expressed enthusiasm about the acquisition, stating, “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.”

NBL Owner Larry Kestelman highlighted the exciting around elevating the WNBL, noting, “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

This acquisition aligns with broader efforts to unify and enhance the profile of basketball in Australia. By leveraging the NBL’s operational expertise and Wollemi Capital’s investment capabilities, the consortium aims to drive growth, increase visibility, and provide sustainable opportunities for female athletes.

The transition period will involve close collaboration with existing WNBL clubs, players, and stakeholders to ensure a seamless integration and to address any operational challenges. The consortium has committed to maintaining the league’s integrity while implementing strategic initiatives to enhance its commercial viability and fan engagement.

As the WNBL prepares for this significant change in leadership, the focus will be on building a robust framework that supports the development of women’s basketball at all levels. This includes investing in grassroots programs, improving player welfare, and enhancing the overall competitiveness of the league.