The WNBL is officially changing hands, after being acquired by The Wollemi Capital Group Syndicate (WCGS) and the NBL. 

While Basketball Australia has previously held ownership of the league, as of 2025 the ownership will change hands, bringing it in line with the NBL as Australian basketball continues to grow. 

But who is behind the league’s new owners, and what will it mean for the WNBL going forward?

NBL, Wollemi Capital Group Syndicate take ownership of WNBL

The WNBL will officially come under the wing of the NBL from 2025, as Larry Kestelman looks to unify both top-level Australian professional leagues. 

According to an announcement from the WNBL, the new group will have 60 days to finalise the deal which will see the majority of ownership transferred, with Basketball Australia maintaining a minority share.

“Women’s Basketball in Australia has a phenomenal history and an even brighter future; we are excited to be a major part of the syndicate that will guide the future direction as well as provide the right level of support and investment needed in the sport for decades to come,” said Wollemi Capital Group founder Robyn Denholm.

“There is much work to be done to transform the League into a platform that our amazing female players, clubs, fans and all involved richly deserve.”

Kestelman added that this new ownership arrangement allows the league to continue to grow and develop in a similar fashion to the NBL’s last decade.

“The female athletes in the sport, as well as younger girls aspiring for greatness, deserve better and we believe we can, with time, deliver something to be proud of, but do not underestimate the work and challenges ahead,” Kestelman said.

Kestelman will also have a five-year option to buy out Basketball Australia’s remaining stake, according to the AFR, to go along with his 94% owenrship stake in the NBL. 

Since he invested in the Australian league in 2015, the NBL has grown into one of Australia’s premier leagues, recently signing a fresh TV deal that saw games return to free-to-air TV. 

The WNBL is also on the way up – with new team Geelong United granted a license to return to the league during the 2024-25 season.