The Taipans look set to join the NBL this year thanks to the deep pockets of council. After the community late last year in a last ditch effort to save their beloved club managed to raise the minimum working capital of $500,000 required by the NBL, a further $1 million dollar unconditional bank guarantee was still required. In what is being touted a controversial decision the Cairns Regional Council delivered the lifeline, with all but Councillors Julia Leu & Rob Pyne supporting the guarantee.
Rate payers were offered some solace by the Taipans President Denis Donaghy stating “It's not our plan to ever call that guarantee in, however it now allows us to inform the NBL that we're back in business and have ticked all the boxes,".
"What we were presented with was either giving a lifeline or the death nail to our only national league sporting team," Mayor Val Schier told CairnsBlog this morning. "What kind of signal it would send out if we did not support them, would have been awful. Confidence is already low in the business community around town."
A good use of your rates money? You decide.
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