THE shot clock has finally expired and the Gold Coast Blaze will not be part of the 2012/13 NBL season.
After going into voluntary administration earlier this year, the club's owners had been given until last Friday to show they could meet all necessary licensing requirements - including financial terms.
That was later extended to July 31, but the club's owners advised Basketball Australia late on Tuesday night they could not guarantee the $500,000 injection from a mystery backer, nor the details of a proposed $1 million funding package from "sponsors and other sources", by that extended deadline.
BA acting chief executive officer Scott Derwin said, "To be frank, this is hugely disappointing. It's unfortunate for the club's players and fans that the owners have made the decision to withdraw".