Wow... sounds pretty dodgy

Sounds very Eddie Grovesish to me, chasing more and more growth with increased leverage up at every turn.

Got too big too quick!!!Be interesting to know whos funding this new team. I certainly wouldn't be putting up my hard earned money in.

Bankrupt doesn't mean you have nothing. Case in point, Trump. Bankruptcy is a protection of assets at times, and just a way to get out of paying debts as much as possible. Some people genuinely go bankrupt, others just use it to their financial advantage

I cant say Im a fan of Shane Heal. To be he represents a side of humanity: Hubris, Extreme Aggression and a willingness to burn mates to make Money. The fact that his wife ALSO went bankrupt owning money dosnt make me feel any better there. People who hide money under their wifes name are well... I wont say what they are here.

Who's to say his wife wasn't involved in all the dealings though

If this bloke had played for the 36ers for most of his career you'd all want him to have the keys to the city.

What a dog

"Heal testified he was "not aware" of such timing and his income-free period represented time for a business to turn profitable. “You can be suspicious about the timing; I'm trying to help kids,” he told court."

Be prepared to stand behind what you have posted in court. Remember, if I am asked by a lawyer to provide potentially identifying information about a Hoops poster, I will comply.

Small business is tough and you have to work hard at it. A lot of small businesses fall into the traps ignoring cash flow problems (and focusing simply on overall company value), often borrowing from friends to overcome these problems without sorting out the underlying issues. I'm not making any judgments on this case except to say that Heal is far from the first or last to ever have a tough time transitioning from pro athlete to real life or setting up a small business.

Hope he recovers.

Unfortunately, many pro athletes go about their business endeavours the same way they play the game.

But, business is different to sport.

In sport, work in = work out. You get what you put in and the measure of your success generally equates proportionally to your work ethic.

In business, work in does not always equal work out. Putting more into a business, being more determined and motivated can actually lead to your commercial downfall.

The same "burning desire" to be bigger and better makes pro athletes, but ultimately breaks them as businessmen.

I will leave my opinions of Mr Heal out of this but personally I would not enter into a business relationship with him. I'll leave it at that.
Best of luck to the new SEQ WNBL franchise and its supporters, sponsors and creditors. I hope they are a success and in the league for a long time.

Heal is a fraud and Simon Kerle lost 500k another ex mate lost 500k and his old agent lost 150k another ex team mate lost money he is only coaching women so he can get his daughters a gig he will ruin seq Bball also Jason Cheney ex wnbl coach lost 200k anther guy jimmy lost money all I know is where ever he goes the bridges burn behind him

Heal allegedly a dickhead

Heal allegedly defrauded #265 of any punctuation.

It would indeed.

They're in excellent form right now, so I wouldn't bet against them!

Hi all, Shane Heal was awesome in this game.

https://www.youtube.com/watch?v=L3OCJBVgGHM

Probably pathed the way for a lot of future Australian's to play in the league.

Np... here to help.

http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2016-releases/16-396mr-asic-charges-former-company-director-with-fraud/

first post for those who came in late

http://www.couriermail.com.au/business/queensland-business-monthly-former-nba-player-shane-hammer-heal-is-back-in-business/story-fnihsps3-1227303814377

last year
http://www.smh.com.au/business/australian-basketball-champ-shane-heal-charged-with-fraud-20161118-gssgem.html

and the next day

http://www.smh.com.au/business/basketball-stars-caught-up-in-shane-heal-alleged-fraud-20161118-gsss2n.html

two days later

https://www.businessinsider.com.au/philadelphia-76ers-coach-allegedly-defrauded-250000-by-a-former-australian-player-2016-11