Allens has advised the National Basketball League (NBL) and LK Group on their investment in the WNBL.
The recently finalised deal sees a consortium formed with Wollemi Capital Group Syndicate for the acquisition, with the group to assume control of the WNBL in April 2025.
'We are excited to have advised on this boost for the future of the WNBL,' said lead partner Mark Malinas.
'This significant investment in women's sport will create new opportunities for growth within the WNBL, for its athletes and for those who love basketball.'
Allens advised on all aspects of the acquisition, including legal due diligence, strategic approach and negotiation of the consortium arrangements and transaction documents.
'The signing of this deal marks a pivotal moment for women's basketball in Australia and we are delighted to partner with Wollemi and Basketball Australia towards a successful transaction close, and beyond. We are incredibly grateful for Allens' advice throughout the complex negotiations to acquire the WNBL,' said Lauren Blecher, Chief Corporate and Governance Officer, NBL.
