Breakers owners Paul and Liz Blackwell will relinquish their controlling stake in order to bring new investors into the club, the Auckland-based Australian NBL club confirmed today.
The Blackwells have been sole owners for the past 11 years, and said they felt it was time for someone else or another group to take the club to another level.
"We believe the timing is perfect for us to make this decision and more importantly, for a new majority owner to lead the club into what promises to be an exciting new phase as the NBL continues to grow and develop," Paul Blackwell said.
The Breakers have won the NBL title four times, including a three-year-streak from 2010-13.
They were runners up in 2016, but last season finished fifth in the eight-team competition.
They currently lead this season's competition.