Sims, who replaced Australian Rick Castle, led the Nuggets to just two wins from 18 National Basketball League matches.
But despite the poor results Sims said he was keen to return to help turn the team around.
"The conversations have been positive but there are a couple of financial things they've [Basketball Otago] got to wait on before they want to make a commitment.
"They probably won't know those sort of things until mid to late July, so that is where it was left.
"I would like to come back but that is their timeline, so we'll just have to wait and see."
Sims has asked Basketball Otago for a two- or four-year contract so he will have time to build a programme.
However, Basketball Otago chief executive Mark Rogers said the organisation was not in a position to meet Sims' demands until after Basketball New Zealand had completed its review of the NBL, which includes looking at the viability of the 10 existing franchises.
BBNZ will present the review's recommendations to franchise representatives at the end of July.
"We are not making any decisions until after the NBL review has been completed," Rogers said.
"It does not make much sense in appointing somebody if we find out . . . we don't end up playing in the national league [next year], which is a small possibility."
However, Rogers said Sims was a "pleasure to work with".
"He was open and honest with everybody, communicated well and the public liked him. He left on good terms."
The Wellington Saints took the entire first half to find their rhythm last night but when they did Ernest Scott pumped in two three-pointers to help them book a place in the NBL finals.
The Saints eventually beat the Nelson Giants 86-75 in the first semifinal at the TSB Bank Arena in Wellington, coming from nine points down to level the score 45-45 at half-time before taking the lead from the resumption to win by 11 points.
Scott took the game away for the Saints when he scored a crucial three-pointer to stretch their lead to 65-61 halfway through the final quarter before repeating the move to give his team a 75-63 cushion which it defended staunchly for the final 3min.
Arthur Trousdell featured in the Saints' comeback late in the first half while Nelson's Michael Harrison was also prominent.
Waikato plays Auckland in the other semifinal today after the Stars beat Harbour Heat 94-84 on Wednesday night.
Wellington Saints 86 (Luke Martin 21, Ernest Scott 18, Nick Horvath 16, Arthur Trousdell 11, Brendon Polyblank 11), Nelson Giants 75 (Michael Harrison 21, Phill Jones 17, Jamil Terrell 14).
First quarter 22-25, half-time 45-45 (23-20), three-quarter time 59-54 (14-9), full-time 86-75 (27-21).
• Liquidators have been appointed to the Sydney Kings, who were yesterday stripped of their Australian national league licence for failing to meet overdue player payments.
Nicholas Crouch, of Crouch Insolvency chartered accountants, was appointed official liquidator of Sydney Kings Syndicate Pty Ltd by the Supreme Court of New South Wales.
His appointment follows an application by Workers Compensation Nominal Insurer, which was owed about $A130,000 ($NZ164,750).
Shabnam Amirbeaggi, a partner at Crouch Insolvency, said the liquidator would try to sell the residual assets and would enter into discussions with the NBL to determine if there was any prospect of resurrecting the team, which is believed to have debts of about $A1.5 million.
