The former NBA champion was intrigued by the move to rebrand the franchise, however believes the long-term stability of the club should be central to all decisions.

Speaking on the back of the launch of Sportility's Design Heroes promotion, Bogut is hopeful the new owners remain dedicated to the Illawarra.

"You never want to see a team drop out of any professional sporting league," Bogut said. "Especially an NBL foundation club like the Illawarra, they're very important to the league.

"It's going to be interesting to see how that all goes. We know the Illawarra hasn't been in the best state of admin in the last five years, decade. It's been the same thing every couple of years, the same kind of stories resurface, so let's hope this puts Illawarra back to where they belong.

"I know the people there are very, very proud of the Hawks and they do a phenomenal job in their community and I hope to see them there forever."

The backlash to the move has been swift, with Hawks fans, sponsors and politicians denouncing the NBL.

Bogut feels they have a right to be asking questions.

"I agree with the people of the Illawarra that it's very disappointing, so I'm not sure what the play is. It's something you'd have to ask Larry (Kestelman) and Bryan (Colangelo) and the owners involved.

"I think the people [in the Illawarra] have a right to be asking questions."

READ MORE: NBL over-reached by dumping Illawarra name from Hawks. Here's why.

Bogut's comments come at the end of a controversial week for the league's only continuous foundation club.

Not only was Illawarra removed from the franchise's name, but the NBL opted to back a consortium led by former Kings part-owner Dorry Kordahi over a local bid from prominent businessman and Hawks sponsor Tory Lavalle.

And there was growing speculation on Friday that former Kings championship-winning coach Brian Goordjian, who had been coached in China before the COVID-19 shutdown, would be involved with the new club.

There is also doubt over where games to be moved away from Wollongong for financial benefit will be played, after the ACT Government distanced itself from future funding for NBL games and the new Newcastle stadium is about 18 months away from completion.

READ MORE: New-look Hawks must embrace Illawarra's fighting mentality: Beveridge

Bogut has played a significant role in the Kings rise to being an NBL powerhouse again, buying into the club, as well as playing a role in their march to the NBL grand final series this season, before the title was handed to Perth midway through the series as sport went into shutdown.

With politicians denouncing the move to rebrand the franchise, Bogut urged those representatives to now turn their attention towards the ageing WIN Entertainment Centre in order to help the team thrive in Wollongong.

"A big hindrance down there is the WIN Entertainment Centre's a big outlier in this. That needs to get figured out with a better lease and better terms for the Hawks.

"I know for a fact their lease terms aren't ideal and they are a pretty expensive arena to lease out.

"You'd hope local council and government can get involved if they want to keep Illawarra there long term."