Netball Australia says it will not rush into a commercial deal and remains insistent the financial strife the sport is facing does not pose an existential threat.
Financial results released last month revealed a $4.4m loss for the 2021 financial year – up $1.6m from 2020 – prompting speculation around the future of NA and its premier domestic competition, Super Netball.
Chief executive Kelly Ryan said in June NA would continue to explore financial and commercial opportunities, after it made the controversial decision to sell off hosting rights for this season’s grand final.
Ryan also said accepting sponsorship from gambling companies was not “out of the realms of possibility” in the effort to maximise the league’s full commercial potential and find a path out of the financial crisis.
The governing body is in the process of conducting a review of Super Netball, which includes a full valuation of the business, and following a board meeting on Tuesday, NA chair Marina Go said it was more concerned with securing the right deal than a quick one.
“A scheduled board meeting was held yesterday, where we discussed the recent commentary and proposals relating to selling all or part of the Suncorp Super Netball League,” Go said in statement on Wednesday.
“We appreciate the interest we have had from multiple parties who are looking to align with our sport and our league. This continues to show the strength and power of netball in Australia.
“Netball Australia takes its responsibility to grow the game commercially seriously and will complete all necessary due diligence on any future commercial arrangements. Taking the first commercial offer of support may not be in the best interest of the sport in the near future or the long term.
“Netball is the number one female sport in Australia and neither our sport or Netball Australia are on the brink of financial ruin, but we are committed to exploring financial and commercial opportunities to ensure Netball Australia is positioned for growth.”
Part of NA’s financial woes have been blamed on bank loans taken out to run Super Netball hubs during the Covid-19 pandemic, totalling $4.2m.
“These loans are in the process of being extended to 2025 to maintain an investment focus after two pandemic-impacted years,” NA said when it released the financial report.
