WNBL side Adelaide Lightning's future is in doubt if they can't find an investor to fill a $500,000-a-season hole.
The Advertiser has reported players and coaches were informed that the teams WNBL licence is under threat if they can't find an investor ahead of their match against the Melbourne Boomers on Sunday.
It comes after Lightning nearly folded three years ago when their then owner relinquished the licence after being unable to secure enough support.
Basketball SA stepped in as caretaker before a $150,000 sponsorship provided short-term security.
WNBL and Basketball Australia were informed of the current situation on Friday and of Adelaide Basketball - which owns both the 36ers and Lightning - six-week strategy to either find a buyer or significant backing.
The Lightning have been part of the WNBL for 25 years and have won five Championships with their last coming in 2008 but narrowly missed finals last season.
At the moment, Lightning average just 250 people per home game and have cost owner Grant Kelley $1 million for the past two seasons.
“Adelaide Basketball is a leading advocate of women’s sport in South Australia, which is why we took on the Adelaide Lightning basketball licence, subsequent to taking on the Adelaide 36ers,” Kelley told The Advertiser.
“However, we need financial help in the way of additional investors or sponsors for the Lightning, and most importantly, we need the South Australian sporting public to get behind the Lightning and start attending games.”