BASKETBALL Australia is set to announce the make-up of its "new NBL" late next week, with the Cairns Taipans expected to be among the mix.

The Taipans have been asked to provide confirmation of the $1 million guarantee gained last week from Cairns Regional Council, evidence of the required working capital of $500,000, and a signed licence agreement – a document sent to all applicants as part of the expression of interest process.

Taipans president Denis Donaghy said he was confident Cairns would be among the clubs named for the new competition.

"I don’t know what the make-up is going to be but we’ve met all the requirements, so I’m pretty sure we’re going to be in it," he said.

The Taipans have raised more than $750,000 through foundation membership pledges from individuals, syndicates and businesses.

Most has already been converted to cash, held in trust.

The new Taipans also have a contract in place to buy the Snakes’ NBL licence from liquidators KPMG pending their admittance to the new league.

After meeting again early last week, the committee examining
applications for the new competition deferred an announcement on the make-up of the competition until after Easter.

A Basketball Australia spokesman said yesterday the due diligence process was still being completed and an announcement on the competition was now expected late next week.

"They’re not going to hurry that process," he said. "You can’t rush that, you’ve got to get it right."

A forum planned for clubs and state associations in Sydney this weekend will still go ahead, with Donaghy and Taipans general manager Mark Beecroft to attend.

The spokesman said all clubs that had applied to join the new competition had been invited.

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