The Nuggets confirmed this afternoon that SEN would end its ownership of the team at the conclusion of the upcoming National Basketball League season.
It follows last week's news that it would not seek an extension of the licence for the Southern Hoiho, which played the past three seasons in the women's Tauihi Basketball Aotearoa league.
SEN also sold SENZ, its New Zealand-based radio stations, as well as the majority ownership and control of the Perth Wildcats.
SEN bought the Nuggets in November 2021, establishing a link with the Wildcats which proved influential over the past three seasons.
In that time several players and coaches joined the team, and contributed to an inaugural league championship in 2022.
Basketball New Zealand confirmed in a release via the NBL that it was working with SEN to facilitate a smooth transition.
It said its preference was to maintain the presence of both teams in their competitions and would soon open expressions of interest for new ownership.
