Basketball Australia senior executives have visited Darwin to assess the financial situation of the sport and how to manage it in the future, following the exposure of a financial crisis, the head of the peak body has said, and amid reports the Darwin Salties will not return next year.
The NT Independent revealed on Friday that an audit of the finances of all the Darwin Basketball Association, the Darwin Salties, and Basketball NT was being conducted by KPMG under the direction of Basketball Australia with input from the Northern Territory Government, following the ongoing financial crisis, with a source telling the NT Independent the organisations lost about $1.6 million combined over the last two years.
I hope the NTG with its billions in debt (that will never be paid off) does not bail them out!
If a NGO/Sporting organisation is not economically viable or financially mismanaged, wave bye-bye to the Loss maker!