Major naming sponsor Oceana Gold confirmed to the Otago Daily Times yesterday it would continue to provide financial support for the franchise as well as continuing its commitment to the Goldrush and Basketball Otago's [BBO] development programme.
It is excellent news for the basketball community and will be a relief to Nuggets fans who may have feared a repeat of the 2009 season, when the team was sidelined for lack of financing.
Oceana Gold chief development officer Mark Cadzow met representatives of BBO last week and, although some of the finer details still have to be worked through, the company has agreed to a sixth season as the major naming sponsor.
''There are a couple of things to work through with regards to costs ... but, basically, we are back on board,'' Cadzow said.
''We believe in the Nuggets but, right from the very start, this has been about creating a pathway for our junior basketballers to come through. We've seen that over the years with players like Sam King, Riki Buckrell and James [Ross].
''We are hoping to do something similar to what Nelson does. They have two or three good players and the rest of the team is made up of good local players.''
The good news comes after months of concern about the state of Basketball Otago's finances.
The organisation is expected to return a third consecutive deficit when the accounts for the period ended December 2013 are eventually made public.
''It is always a concern when a situation like that arises. But I've sat down with a number of people who are involved in the organisation and have satisfied myself that there will be a suitable outcome.
''It is unfortunate it has come to this but we're committed.
''We've put in a lot hard work over the last five years to develop the young guys and we feel it would be letting Otago and the programme down to not support it this year.''
While Basketball Otago has problems at the top, its junior teams and, in particular, some of the school teams have enjoyed remarkable success.
Otago Boys' High School won the national secondary school championships for the first time in its history this year.
Kavanagh College won the smaller schools title and King's High School, Otago Girls' High School and St Hilda's Collegiate School all qualified for the nationals.
Otago's age-group representative teams have also had a stellar year.
Cadzow said he had been buoyed by the results the development programme has delivered and it was just last year the Nuggets made the playoffs for the first time in 16 years.
''The age-group stuff has been fantastic. The programmes that basically started with Rachel Gwerder and carried on with Mark [Dickel] have been fantastic.
"I know there are a few people helping out trying to keep that programme going at the moment. We are keen for that pathway to remain open.''
BBO chairman Ricky Carr could not be reached for comment.
