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WHAT the Adelaide 36ers said - the club's official press release on today's sale.

ADELAIDE 36ERS PRESS RELEASE

The Adelaide 36ers can officially announce today that agreement with a new ownership group to take the club forward from this season onwards has been confirmed.

After months of negotiation all relevant and necessary paperwork has been completed in conjunction with the NBL.

The new ownership group, a consortium which includes the owners of Titanium Security Arena headed up by Ex NBL Chairman Mr Bruce Spangler will be a positive one for the club.

Merging the club and the venue can only provide greater opportunities and security for both entities as well as for the fans of the game.

When the current SOS consortium took over the 36ers six seasons ago, it was a group of eight. For the past four seasons that group has reduced to three - Chairman Daryl Simmons, General Manager Dean Parker and Director Paul Finlay.

While they put their heart and soul into saving and rebuilding the club, with the past two seasons producing the best results in a decade, now is the right time to continue moving the club forward to build on that success.

“We have received unbelievable support from our members and Corporate partners, many of whom in my case have become personal friends as well and while we will miss them, we feel we need to do what is best for the long term benefit of the club,” GM Dean Parker said.

“That is why we did this and it is all we have ever wanted.”

“We have worked very closely with the new owners to make this transition as seamless as possible and know the Club is in great hands moving forward,” Chairman Daryl Simmons said.

The new consortium has thanked the 36ers for helping to make this transition as easy as possible again ensuring that everything is about what is best for the club.