Tuesday, February 7, 2023
HomeSportsAussie NBA Legend Longley buys stake in Sydney Kings

Aussie NBA Legend Longley buys stake in Sydney Kings

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The reigning NBL champions have added some more firepower to their roster, but this basketball icon won’t be pulling on the purple and gold, as the Sydney Kings announced this Friday that NBA champion Luc Longley would be joining their ownership group. 

Longley, 53, has been a part of the Sydney Kings organisation for some time, after becoming a special adviser for the team in 2019, and the results have spoken for themselves, with Sydney winning the championship in 2022 and look a strong chance to go back-to-back. 

Longley joins fellow former Australian NBA big man Andrew Bogut in the ownership group, as well as Wollemi Capital’s Robyn Denholm, and majority owner Total Sports and Entertainment (TSE). 

The first Australian to play in the NBA, Longley is accustomed to being at the forefront of Australian basketball, and this latest move is no different, with Longley saying that he is excited to continue to push the sport forward. 

“I am proud to be formally joining the Hoops Capital ownership group,” Longley said.

“I have always enjoyed my role with Hoops Capital. Paul and other key owners have always been prepared to break convention, innovate and trust Chris Pongrass and I to build a positive, winning culture.

“I’m excited by the growth of the business beyond the Kings into women’s basketball and broader basketball initiatives. 

“I look forward to this next chapter and I thank Paul, Andrew and Robyn for welcoming me as co-owner.”

According to Paul Smith, Hoops Capital chairman and majority owner, bringing Longley into the ownership group was the obvious next step of what has been a highly beneficial relationship. 

“Luc joined us in 2019 as a Special adviser across on and off-court operations, and since then he has been an integral part of the business,” Hoops Capital chairman and majority owner Paul Smith said.

“This next period is a logical extension of the relationship we have enjoyed for over three years.

“To be able to have Luc as a business partner is a very special occasion for me personally. We all hold Luc in the highest regard as an adviser and a friend.”

Longley becomes the most recent in a long line of current and former NBA players to become co-owner in an NBL franchise.

John Wall, Dante Exum, Zach Randolph, Al Harrington, and Josh Childress are all involved in the ownership of the South East Melbourne Phoenix; Victor Oladipo and Shawn Marion both own part of the New Zealand Breakers; Kevin Martin, Thaddeus Young and Kris Middleton are part of the Brisbane Bullets ownership group, and of course, Andrew Bogut is already a co-owner of the Sydney Kings. 


Credit: sportingnews.com

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