NBL owner Larry Kestelman has agreed to sell a 25 per cent share of Melbourne United to sports media company Crocmedia.
Kestelman and Crocmedia will be joint major shareholders of the reigning champions, with a 25 per cent stake each, the NBL announced in a statement on Monday.
Kestelman said the time had come to hand the club over to the next generation of owners.
"I'm delighted that Crocmedia has come on board to help drive it forward," he said.
Crocmedia Chief Executive Craig Hutchison said the company would look to create new revenue opportunities.
"It presents us an opportunity to offer our brand partners a unique end-to-end solution in the growing code; from community and grassroots, to the incredibly exciting match day environment and all the broadcast and content opportunities that sit around it," he said.
As part of the deal, SEN radio will broadcast all Melbourne United games live.
Melbourne United will be travelling to the United States in September to play the Philadelphia 76ers in the NBA preseason.
Australian Associated Press
