I've thought outside the square, and come up with a solution which not only fixes this problem but also that of getting the NBL on free-to-air:
Far from 2 teams in Adelaide being too many, it's actually not enough.
What we do is get, say, six teams based in different geographical areas of Adelaide. Then, kind of like My Restaurant Rules, one of these team gets the boot each week (or probably more realistically, each month).
The associated Channel Nine TV show would show the trials and tribulations of trying to get an NBL team up and running, and it would be the viewers of the show who ring the 1900 number to vote for their favourite club - with BSA taking a cut of the profits from the phone line.
*sample scene from show, featuring team CEO and coach huddled around a laptop, gesturing and pointing:
Team CEO: we can't afford that guy, even if you say you think you'll be able to get his points rating as a veteran.
Coach (angrily): You know, all I've encountered from management since the day I've started is this negativity: we can't afford him, it costs too much to practice here, it's always all about the money. What sort of crap basketball club are you trying to run? One that lines your pockets with money or (shouting) ONE THAT WANTS TO WIN? (Turns to camera) Turn that bloody thing off.*
Eventually, we'd get down to the two teams who are the most popular, and they get the licences. The Sixers may not even make it to the final two. ;)