In a dramatic escalation within Australia’s National Basketball League (NBL), Larry Kestelman, the league's owner and executive chairman, has refuted claims that the NBL is for sale amid internal conflicts. The discontent was fueled by Illawarra Hawks owner Jared Novelly, who is attempting to oust Kestelman. Novelly recently dispatched an email to nine other team owners on March 21, 2025, stating his intention to initiate "multiple actions" against NBLCo before the month ends. One of his demands includes Kestelman selling all his shares evenly across the league's ten teams.
Novelly’s grievances are extensive. He has pointed to various issues he believes compromise the integrity of the league, including "secret Ambassador Agreements, gambling revenue, the sale of the JackJumpers, integrity concerns, and financial transparency." These points, combined with a KPMG report, have become a focal point in this unfolding drama. The report claims a history of NBLCo miscalculating club distributions and highlights significant profits being funneled to Kestelman’s companies from NBL-related activities.
In a statement addressing the media, Kestelman expressed his commitment to the league, saying, "We remain fully committed to the continued and unprecedented growth and success of the NBL," denying that there is any truth to Novelly’s assertions. As the owner since 2015, Kestelman has overseen a remarkable period for the NBL, particularly with the league experiencing unprecedented growth and success.
The timing of this confrontation is particularly notable, unfolding just days ahead of game five in the 2025 NBL Championship Series. Kestelman has often been praised for revitalizing the league and bringing it to new heights, making Novelly's challenge more striking. Observers wonder why, now, Novelly would choose to escalate the conflict rather than work through existing channels to address his grievances.
Adding to the complexity, the KPMG report has stirred debate about managerial transparency within the NBL landscape. The report reveals that related party transactions and opaque procurement processes have allegedly benefitted entities tied to Kestelman, which have raised eyebrows among those concerned about the league's governance.
As this drama unfolds, the eyes of fans and stakeholders in the league remain fixed on the developments. The outcome of Novelly's threats to act could reshape the dynamics of the NBL. Would this lead to an unprecedented shift in ownership structures or merely another chapter in Kestelman’s ambitious stewardship of the league?
The forthcoming game promises not just athletic rivalry but a stage for potential governance challenges in the league, making the stakes even higher for all involved. Stakeholders will be waiting to see how the NBL navigates not just its on-court battles but also the internal strife that could jeopardize its hard-won reputation.
