Wollemi Capital Group™ and NBL Take the Helm of the WNBL.
In a landmark move poised to transform the landscape of women’s basketball in Australia, the Wollemi Capital Group Syndicate (WCGS) and the National Basketball League (NBL) recently announced a consortium to acquire a majority interest in the Women’s National Basketball League (WNBL) at the end of the 2024/25 season. Basketball Australia will retain a minority stake, ensuring continuity and support for the league’s future growth.
Robyn Denholm, Founder, Wollemi Capital Group: 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.
The consortium’s formation marks a significant milestone for the WNBL, a league that has been a cornerstone of Australian women’s sports since its founding in 1981. With eight teams, including the reigning champions Southside Flyers and the record-holding Canberra Capitals, the WNBL has long been a hub for elite female basketball talent.
Wollemi Capital Group, known for its leadership in environmental custodianship and impactful investments, sees this acquisition as a part of its broader commitment to fostering sustainable growth across various sectors. Headquartered in Sydney, Wollemi Capital™ was founded by Tim Bishop, former Global Head of Macquarie Capital, and Paul Hunyor, former Head of Asia and Australia for BCG Digital Ventures. The company combines deep investor knowledge with operational expertise to effectively drive systemic change and measure impact.
NBL Owner Larry Kestelman, who has been instrumental in revitalizing the NBL, highlighted the consortium’s vision for the WNBL. “We are proud to be part of a group that will now have an opportunity to rethink what the best version of the WNBL can look like and set the direction for the future as we did for the NBL,” Kestelman said.
Starting April 2, 2025, the consortium will take control of the league, with the NBL responsible for its operations. NBL CEO David Stevenson underscored the consortium’s commitment to a collaborative approach. “We will spend the next few months and beyond listening and learning as much as we can from the clubs, players, fans, and key stakeholders to ensure we make the appropriate changes for long-term sustainability and the establishment of a world-class League,” Stevenson said.
Basketball Australia Chair John Carey confirmed that WCGS and the NBL emerged as the successful consortium after a rigorous selection process. “We are delighted to welcome WCGS and the NBL to the WNBL. We are all committed to working together to ensure the success of the League for the players, clubs, and fans,” said Carey.
Basketball Australia CEO Matt Scriven echoed the optimism surrounding the new partnership. “The announcement today is a commitment by all parties to elevate the WNBL and ensure the future of women’s basketball in Australia,” states Scriven.
As the WNBL prepares for this new chapter, fans can expect a renewed focus on delivering a top-tier basketball experience. The league’s games, which are currently streamed on 9Now and broadcast on ESPN, will benefit from the consortium’s expertise and investment.
Wollemi Capital and the NBL are poised to usher in an era of unprecedented growth and success for the WNBL, building on its storied legacy while forging a bright future for women’s basketball in Australia.
