THE Gold Coast Blaze are reportedly close to signing an equity partner, with talks continuing through an administrator to save the ailing NBL club.
The Blaze were placed into voluntary administration on Wednesday but hope administrators Aggs Robson Accountants can conclude negotiations with a potential equity partner.
Basketball Australia interim chief executive officer Scott Derwin, who left the Coast yesterday after discussions with the Blaze, said the potential investor was "a person of extreme wealth and extreme substance".
The Bulletin understands the potential investor, from a mining background, wants to remain a silent partner in the business, leaving the club's day-to-day running to the Tomlinson family.
While rumours yesterday linked property magnate Harry Triguboff -- founder and managing director of Blaze naming rights sponsor, the Meriton Group -- to the club, his representatives dismissed the talk.
However, Meriton will remain the naming rights sponsor if the club continues in the league next season.
"I'm aware of who the person is but obviously it's a confidential matter," Mr Derwin said of the potential investor.
"But it's a person of extreme wealth and extreme substance.
"So if those negotiations satisfactorily conclude, I think it will be a fantastic outcome for the Gold Coast Blaze.
"I think the fact that we now have the assistance of a professional administrator, a person who is really experienced in this type of situation, who can now go ahead with those negotiations, is an absolute positive for the Gold Coast Blaze."
In a statement on its website on Thursday, the Blaze said it had entered administration after former coach Brendan Joyce refused to delay enforcement proceedings to allow the club to finalise negotiations with the investor.
But Joyce yesterday hit back at suggestions he was to blame for the club's situation, saying he had gone through every process asked of him in order to settle an unlawful termination case after being sacked with two years left to run on his contract.
http://www.goldcoast.com.au/article/201 ... blaze.html
I guess sport wasn't meant to be played on the glitter strip...GCU gone, Titans and now Blaze into administration...how long will the Suns last?
