THE Townsville Crocodiles confirmed they will not field a team in the 2016/17 NBL Season.
Chairman, Andrew Gisinger said the club had worked tirelessly with the support of the NBL throughout the 2015/16 season to position the club to be a financially viable and sustainable organisation.
"Despite these efforts and the strong support of the Townsville community, the conclusion has been drawn that the business is not in a financially viable position to conduct its operations in 2016/17," he said.
"The license will be handed back to the NBL and the business will be returned to the administrators."
Former Mackay junior Clint Steindl played for the Crocs last season, winning the league's most improved player.
Steindl declined to comment.
Mackay Basketball business development manager Wade Rebetzke said the withdrawal of the Crocs did not mean Mackay would get a national team.
"We just have to consolidate what we've got at the moment," he said.
"There's always dreams of having a NBL team here."
Gisinger said the club progressed through last season with the valuable support of the NBL and were truly grateful.
"The NBL is very busy rebuilding the brand and the competition and are committing significant funds across the league to ensure the future success of the league," he said.
" However for us an entity we need to able to "stand on our own two feet" and the uncertainty of the current economic climate places us in a position where the board are not willing to continue as we do not want to put at any financial risk our players, staff, fans and commercial partners."
Gisinger said the community had been very generous over the last 12 months and for the 20-plus years the Crocs had been part of the NBL.
"Ethically we cannot continue if we are not confident that we will be able to pay our bills," he said.
"We gave it our best shot and the community gave it their best shot but the time has come to close the doors on an amazing chapter of NBL history and the history of the Townsville Crocodiles.
"The club are sincerely grateful to our staff, players, volunteers, fans and all our commercial partners for taking this journey with us."
Plans were also revealed by CQ University in Rockhampton. They announced their intention of bringing a NBL women's basketball team to Rockhampton