The Townsville Crocodiles confirm that they will not field a team in the 2016/17 NBL Season.
Townsville Crocodiles Chairman, Andrew Gisinger explained ‘that the Club worked tirelessly with the support of the NBL throughout 2015/16 to position the Club to be a financially viable and sustainable organisation. Despite these efforts and the strong support of the Townsville community, the conclusion has been drawn that the business is not in a financially viable position to conduct its operations in 2016/17. The license will be handed back to the NBL and the business will be returned to the Administrators’.
We progressed through the 15/16 season with the valuable support of the NBL and for that we are truly grateful. The NBL is very busy rebuilding the brand and the competition and are committing significant funds across the league to ensure the future success of the league. However for us an entity we need to able to “stand on our own two feet” and the uncertainty of the current economic climate places us in a position where the Board are not willing to continue as we do not want to put at any financial risk our players, staff, fans and commercial partners.
The community has been very generous over the last 12 months and for the 20 plus years the crocs have been part of the NBL but ethically we cannot continue if we are not confident that we will be able to pay our bills.
As the Chairman and as the Board we made a commitment with the assistance of the NBL to ensure that prior to taking the club out of administration under a Deed of Company Arrangement that if this season did not provide us with a suitable platform to continue then we would ensure that we would pay all debts including salaries and entitlements.
We gave it our best shot and the Community gave it their best shot but the time has come to close the doors on an amazing chapter of NBL History and the History of the Townsville Crocodiles.
The Club are sincerely grateful to our staff, players, volunteers, fans and all our commercial partners for taking this journey with us.