The NBL has confirmed that the Wollongong Hawks will have a team in the upcoming season's competition.
The Hawks, like the Townsville Crocodiles, went into administration after the completion of the 2014/15 season but both teams are now set to be financially viable thanks to new sponsorship deals.
Creditors have voted in a support plan that would see the club's outstanding debts paid.
Major sponsorship is now understood to have been secured as well as commitments from a number of local businesses.
"All the support has been very encouraging and we thank the fans for their patience," Hawks general manager Kim Welch said.
"It was important we spent time during this off-season working with the relevant parties to set the club up for the future.
The Hawks will now focus on securing their on-court talent for the upcoming season.
"We'll have to sit down with everyone individually over the next few days but I'm hopeful we'll be able to retain our coaching staff and a majority of the domestic players," said Welch.
"We will then commence a worldwide search for two exciting new imports and aim to climb back up the NBL ladder."
Gordie McLeod is expected to be reinstated as head coach.
The Crocodiles announced last month that they were a going concern with a new board installed to run the club.
The eight-team NBL competition starts in October.
