A consortium including two former NBA players and a co-owner of English Premier League club Swansea City will become the new majority shareholders of the New Zealand Breakers.
Long-time club owners and directors Paul and Liz Blackwell on Monday announced a newly formed company, Breakers Basketball Ltd, will take control of the club from March 1.
The consortium is headed by former NBA player Matt Walsh, along with business partners Adam Goodman, Romie Chaudhari, Dan Katz and Shawn Marion.
The Blackwells will stay on at the club they have owned for 13 years as minority shareholders, with Paul Blackwell retaining his seat on the board and influence over key aspects of the organisation's future.
Chaudhari is a part-owner and director of Swansea City, with Walsh also a shareholder of the Welsh EPL club.
He is also a four-time NBA All-Star and likely future Hall of Fame inductee.