NBL backs billionaire owner after Trump ally’s complaint probed
A seven-month investigation into NBL owner Larry Kestleman has concluded, spurred on by Crest Sports’ Jared Novelly, with Basketball Australia saying the complaints were “not credible”.
It alleged that he was a “bad faith actor” and questioned the governance and financing of the league.
Larry Kestleman sits courtside at the NBL in 2026. Getty
Novelly’s Crest Sports and Entertainment owns the Illawarra Hawks and he serves as United States President Donald Trump’s ambassador to New Zealand.
The investigation concluded in April, but The Age reports that few details were initially shared regarding its findings.
However, Basketball Australia released some details on Wednesday, dismissing Crest’s complaints, and praising Kestelman for reviving the league from the brink of extinction.
The report admits mistakes have been made over the years by Kestelman, but says they can be attributed to attempts to grow the league.
The NBL itself released a statement in the wake of Basketball Australia’s report.
“Basketball Australia’s statement reiterates Mr Gleeson’s report found that Crest’s complaint was not credible,” the statement read.
“We welcome the acknowledgment of the scale of Mr Kestelman’s incredible contribution to the sport in that he has invested an enormous amount of his own time and money, over a long period, to reinvigorate the league, its clubs and more generally, the game of basketball.
“As pointed out by Basketball Australia, all were in a state of financial ruin and collapse, but since Mr Kestelman took ownership of the League, all are now prospering and valuable. The NBL and its clubs have experienced unprecedented growth with record attendances, historic broadcast viewership numbers, digital expansion and club valuations.
“Basketball Australia, Mr Kestelman and the NBL are working through Mr Gleeson’s recommendations together, and remediation work is progressing well.
“The NBL will continue to focus on growing the League for its fans, clubs and partners, and looks forward to the start of the regular season on September 19.”
Basketball Australia has given Kestelman one year to rebuild trust with the league’s teams, starting with the Hawks, as well as the Perth Wildcats and Melbourne Phoenix, who supported the investigation taking place.
