Today a nervous Hawks will officially apply for a place in the "NewNBL" - the temporary name given to the restructured national basketball competition - and should learn of their fate by early April.

Board of Basketball chairman David Thodey issued a statement on the NBL website on Wednesday, detailing the league's plans to release an "expressions of interest pack" to prospective licensees.

"We are now confident that the criteria provides an opportunity for interested parties to become part of an exciting new era in Australian basketball which will see the development of a new and professional men's championship league which will act as the cornerstone of the resurgence of basketball in Australia," the statement said.

"The EOI (expressions of interest) information pack will include an explanatory memorandum, an expression of interest document which outlines the new criteria, a revised licensing agreement, and a comprehensive rules and regulations document."

Financial constraints will be the Hawks' greatest stumbling block, with teams in the new league expected to effectively have $1.5 million in the bank before they even start signing players and coaches.

As early as November, Wollongong chairman Richard Clifford said "money will be the toughest part for us in terms of meeting the criteria".

On the plus side, he went on to say the club had a "good fan base and we're strong in other key areas such as community support, corporate support and the support of our local media. We essentially tick all the boxes, but the only thing is the financial backing."

Yesterday Clifford said funding was still the club's Achilles heel.

"We can only assume the criteria remains unchanged and money will be a stumbling block for us," he said.

"We're keen to see if it has changed because we've argued against it all along, and the fact it's been left so late makes me more nervous than anything. We're battling to keep going as it is, let alone try and determine which way (the criteria is) going.