THE Cairns Taipans have scored a buzzer-beating victory in their survival bid which should ensure they are named in the "new NBL" within the next 48 hours.

The Taipans yesterday passed the final hurdle Basketball Australia had set, converting foundation membership pledges into $500,000 of working capital needed to compete in the new league.

More than $750,000 was pledged during a community campaign, but until yesterday the Taipans had not converted the minimum target into cash.

By 6pm last night $514,425 had been converted, giving Basketball Australia virtually no option but to approve the club at a board meeting today.

Taipans president Denis Donaghy was buoyant yesterday amid reports Basketball Australia had already
decided to approve a nine-team league.

But Donaghy urged foundation members to continue to convert their pledges so the Taipans could raise a further $150,000 for other costs and to buy the club’s licence from liquidators.

"It was a bit of 11th-hour stuff but we’re over the line with respect to the first hurdle and we just continue to ask people to convert pledges because upon the receipt of advise that we are in the league then we’ve got to buy the licence," Donaghy said.

The Taipans have already produced a recruitment wish list.

They have vowed to stick to a strict budget, meaning they could struggle to sign big-name recruits.

Donaghy said the Taipans would first sign the bottom half of the roster, likely to be players who stayed with the club in the second half of last season.

The club would then target imports and other stars.

"We’ve got three to four options in each spot and there are a lot variable in terms of how much money will be available."

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