A loan of $310,000 to the Basketball Association of Newcastle from the Office of Sports has been waived by the NSW Liberal National Government, Parliamentary Secretary for the Hunter Scot MacDonald MLC announced today.
The initial loan, of which $310,000 remained, was provided to assist with the development of the Association’s headquarters in Broadmeadow, under the Sporting Ground Improvement Fund
Mr MacDonald said the waiving was formally advised by the Minister for Sport the Hon. Stuart Ayres MP after careful consideration. The Office of Sport would now move to finalise the outstanding balance as at the end of July 2018.
“I thank the Minister for his consideration of the financial benefit this would provide to Newcastle Basketball,” Mr MacDonald said.
Newcastle Basketball General Manager Neil Goffet said this was great news for everyone involved with Newcastle Basketball.
“The loan dates back to 1987, so it has been a long time, but this is very exciting for us and will help the association and the sport continue to move forward,” Mr Goffet said.
“Scot MacDonald has been extremely supportive of what we are doing and we cannot thank Minister Ayres enough for his assistance.”
“We have been working closely with the NSW Government to help build a prosperous future for basketball in Newcastle and Lake Macquarie.”