The moment of truth has arrived for the Wollongong Hawks in their bid for inclusion in the NewNBL.
The Hawks have just 10 days to secure a $1 million bank guarantee and ensure a spot in the 2009-10 revamped competition.
If the club does not find a guarantor by the end of the month, the Save the Hawks campaign will be buried and Wollongong will not be represented in the new league.
"This is crunch time now for the Illawarra community. We need to make a serious case to Basketball Australia that we belong in the NewNBL," Save the Hawks spokesman Mat Campbell said.
The NBL contacted Campbell on Thursday night, providing a detailed response to the Hawks' Expression of Interest (EOI) application to be part of the restructured league.
Although the submission "ticked most of the boxes", Campbell said the league "stood firm" on its original clause in the criteria that requires teams to provide the million-dollar guarantee.
Clubs also must have $500,000 in working capital, a figure the Hawks are close to meeting through foundation membership pledges on the Save the Hawks website.
The league has said teams meeting all points of the criteria would be assured of a start in the new competition.
"We'll be providing the NBL subcommittee with further information over the coming days in regard to a few matters in our EOI, basically in relation to the formation and structure of the new company, staffing and financials," Campbell said.
"We've put together a strong case to be accepted into the NewNBL. Our main shortfall at the moment in our EOI is the $1 million bank guarantee.
"We have 84 foundation members totalling $420,000 pledged, but we need to reach $500,000 to meet the working capital requirement of the NewNBL. I believe the community will group together in the coming weeks and if we are accepted we'll meet the $500,000 working capital requirement."
But while Campbell remained confident of raising the $500,000 in capital, the Hawks are racing the clock to secure a guarantor.
The Townsville Crocodiles have the financial backing of their local council, while the Liberal National Party has reportedly promised to support the Cairns Taipans if it wins the Queensland state election.
Campbell said he would seek assistance from Wollongong council and the State Government.
He also made a last-ditch plea to the "wealthier people in town" to help save the Hawks.
"We will be actively looking for the support of the $1 million bank guarantee, but we are still encouraging the entire Illawarra community to get behind their team and save the Hawks," he said.
"We understand the bank guarantee is a large investment, but the reality is if we can't find an organisation or person to support the Hawks' not-for-profit organisation with this guarantee, we will be non-compliant for NewNBL."
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