The owners of the basketball franchise have handed back their playing licence to the league.
The team will not participate in the Tauihi Basketball Aotearoa competition this season, unless someone else steps forward to rescue the franchise.
Hoiho general manager Angela Ruske declined to comment when contacted today.
But multiple sources have confirmed the decision with the Otago Daily Times.
The players were informed of the decision earlier this week and it is understood SEN Teams, the registered owner of the Hoiho, was looking for buyers, but has instead surrendered the licence.
The National Basketball League will hold on to the playing licence. It is up to the league to decide whether they will pass it on to someone else, or whether they call for expressions of interest.
There is a chance the playing licence could be picked up by a party outside of Dunedin, which would be a big loss for the city’s basketball community.
SEN Teams is also the owner of the Otago Nuggets playing licence, but there is no suggestion that team is under any immediate threat.
The Nuggets open their campaign against the Southand Sharks at the Edgar Centre on March 14.
SEN Teams is a subsidiary of the Australian company Sports Entertainment Group (SEG).
SEG owner Craig Hutchison sold the Perth Wildcats to tech entrepreneur Mark Arena last year.
More in tomorrow's Otago Daily Times.
