Australia's NBL Ownership Could Undergo 'Hostile Takeover:' Report

An NBL team owner is reportedly looking to wrest control away from the NBL's current top stakeholder.

Feb 25, 2015; Salt Lake City, UT, USA; Utah Jazz guard Bryce Cotton (8) during warm-ups prior to the game against the Los Angeles Lakers at EnergySolutions Arena. The Lakers won 100-97. Mandatory Credit: Russ Isabella-Imagn Images / Russ Isabella-Imagn Images

There's trouble brewing in one of the world's most competitive non-NBA men's basketball pro leagues.

Olgun Uluc of ESPN reports that Jared Novelly, owner of the Illawarra Hawks, is attempting to seed a "hostile takeover" of the Australian National Basketball League (NBL).

Illawarra Hawks owner Jared Novelly has deployed an attempted takeover of the NBL, with a goal to oust current league owner Larry Kestelman. In an email to other club owners, obtained by ESPN, Novelly details his plan for all 10 teams to purchase the NBL.https://t.co/Yd1ImIAZJR

— Olgun Uluc (@OlgunUluc) March 21, 2025

Uluc has gotten ahold of a private email sent Thursday by Novelly to the league's other nine owners, in an effort to oust current NBL owner Larry Kestelman. Novelly claimed in the email that he intends to file "multiple actions" against the league by the end of March. A draft term sheet attached to the email suggested that Kestelman divest himself of his ownership, selling 10 percent of his shares to each of the NBL's 10 franchises.

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"I am taking one last shot to try to allow the current ownership to leave peacefully while saving face and reputation," Novelly wrote. "I apologize if this initiative offends you... That is very far from my intent, but I'm not willing to let the status [quo] continue and I see this as a reasonable path forward."

Uluc reports that Novelly's email was sent to Brisbane Bullets owner Jason Levien, Cairns Taipans president Troy Stone, Kings owner Robyn Denholm, Melbourne United owner Chris Moore, New Zealand Breakers owner Matt Walsh, Perth Wildcats owner Mark Arena, South East Melbourne Phoenix owner Romie Chaudhari, Sydney Kings minority owner Paul Smith, and United Chairperson Mike Symons. One of these owners is likely responsible for the leak to Uluc.

According to Novelly, Kestelman's NBL ownership has been clouded by questions of "secret Ambassador Agreements, gambling revenue, the sale of the JackJumpers, integrity concerns and financial transparency."

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Novelly went on to suggest that Kestelman is cheating the league out of money.

Per Uluc, Novelly noted that a recent KPMG Report "reveals that there is a history of NBLCo calculating the Club distribution incorrectly, the significant profits made by LK Group companies from NBL related activities, discrepancies with related party transactions and opaque procurement processes which benefited LK Group entities."

"We remain fully committed to the continued and unprecedented growth and success of the NBL," Kestelman responded to Uluc upon being contacted about Novelly's email to owners. "The NBL is not for sale."

Novelly, son of late Apex Oil owner Paul Novelly, has been announced as U.S. President Donald Trump's next ambassador to New Zealand and Samoa.

Novelly's company, Crest Sports and Entertainment LLC, also reacted to the leak through a statement.

"Crest is disappointed that a private email circulated to NBL club owners has been made public and inaccurately reported as a 'hostile takeover,'" the statement said in part.

Interestingly enough, the best player in the NBL is an American.

After a brief stint in the NBA and the then-D League, former two-time All-Big East First Team Providence guard Bryce Cotton headed overseas. He first linked up with pro clubs in China and Turkey, but has been with the Perth Wildcats since 2017. In that time, he's been an eight-time All-NBL First Teamer and a five-time league MVP.

He stands alone! 👏

A huge congratulations to Bryce Cotton who has been awarded the most Gordon Ellis MVP medals in Perth Wildcats history. pic.twitter.com/bujZmhaM7o

— Perth Wildcats (@PerthWildcats) February 23, 2025

He's won the award for two consecutive seasons.

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For more news and notes, visit Ball Around on SI.