Gold Coast Blaze owners are tonight considering, whether they’ll re-submit a proposal to Basketball Australia, or close their doors.
The B-A has given the club a fresh deadline, until the end of the month, to flesh out a financial plan and repay $146,000 its owed.
It was one of 95 unsecured creditors when the Blaze went into voluntary administration in May owing $12 million.
Acting CEO Scott Derwin says the club must prove it can pay a $1-million guarantee, have working capital, and major backers.
Blaze Co-owner Owen Tomlinson says he’s disappointed as he felt the club had covered all its bases.
They will now reconsider their options.