Wednesday, 25 July 2012

Adelaide arena reposessed by CBA

Rumours have spread with little to no media attention that the Adelaide Arena has been reposessed by the Commenwealth bank. This is due to massive >$8mill debt Eddy Groves (Adelaide Arena owner) owes to the Commenwealth Bank. It is unclear what this will mean for the Adelaide 36ers as this is their home court. However with such instability through the league with the Gold Coast blaze going under it could mean dark days for the National Basketball League. The Arena is a purpose built facility for basketball and should mean that it will remain as the 36ers home gym and whoever buys will continue to allow them to use it. At a marked up rent cost though would be likely.

Update: The Adelaide 36ers released this statement about the situation:
Today we were advised by Ferrier Hodgson that they have taken possession of the Adelaide Arena on behalf of the Commonwealth Bank, from former owner Eddy Groves.  This has surprised all of us at the Adelaide 36ers and Basketball SA.
Over the next week we will be working closely with Ferrier Hodgson to determine what this means for the future of basketball in South Australia, including the Adelaide 36ers, the Adelaide Lightning, Basketball SA and SA Country Basketball.
We will keep our members, the public and other key groups informed as soon as we have further information and better understand what the repercussions are for our sport.
The Adelaide 36ers CEO Leanne Grantham stated that they have been looking into alternatives should the Adelaide Arena be taken off of the team. Locations such as the ETSA Park (Netball SA Stadium) & the Adelaide Entertainment Centre may be viable alternatives.

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