The findings of a confidential investigation commissioned by Basketball Australia into Larry Kestelman, the billionaire owner of the National Basketball League (NBL), have been made public following sustained pressure from media and stakeholders. The report, completed earlier this year and kept under wraps until today, clears Kestelman of any formal misconduct but states that his actions ‘fell short of best practice’ and that he made ‘mistakes’ in his interactions with Basketball Australia officials.
Kestelman, who purchased the NBL in 2015 and has since invested heavily in the league’s growth, faced scrutiny after allegations emerged that he had exerted undue influence over Basketball Australia’s decision-making. The investigation was launched in late 2025 following complaints from several clubs and former officials.
According to sources familiar with the report, the reviewers found no evidence of financial impropriety or breach of fiduciary duty. However, they noted that Kestelman’s assertive leadership style and direct engagement with Basketball Australia’s board created perceptions of conflict that undermined trust. The report recommends clearer boundaries between the NBL’s commercial operations and Basketball Australia’s regulatory role.
Neither Kestelman nor Basketball Australia have commented publicly on the specific findings, but a spokesperson for the NBL said the league welcomed the report’s closure and would work to implement any recommendations. Basketball Australia indicated it would review the report’s suggestions in the coming weeks.
The release of the report ends a period of uncertainty for Australian basketball, which has seen rapid growth in recent years but also tensions between its professional and administrative arms. The episode highlights ongoing governance challenges in the sport as it seeks to capitalise on rising popularity ahead of the 2032 Brisbane Olympics.