Tyrone Levingston appears not the least bit frightened by the financial calamity facing the basketball team owned by his father, Andre Levingston.

Even as the Halifax Rainmen file for bankruptcy, the younger Levingston, 32, is aiming to bring a National Basketball League franchise of his own to Sydney, N.S.

"We're definitely moving forward with being part of the National Basketball League of Canada," Levingston says.

Although he expects Sydney to be welcomed into the NBL, Levingston says there's a pile of work to be done within a short period of time. He's collected $50,000 needed for a deposit and is looking to raise another $250,000.

"We have 45 days to come up with the rest of the franchise fee," he says. "Within the next 45 days we'll be ringing a lot of doorbells trying to raise the rest of that money."

Once that's collected, he's confident that other members of the business community will join him and Cape Breton businessman Parker Rudderham to form an ownership group.

Levingston worked for a number of years for his father's team, the Halifax Rainmen. He moved to Sydney following this season's disastrous finish when the Rainmen forfeited the league championship by refusing to play their final game against the Windsor Express.

The players said they feared for their safety after they were threatened prior to the start of the match. The league fined several players. The Rainmen coach and his assistant were barred from the league for life.

On Monday, the company that owns the Rainmen filed for bankruptcy.

Still, Levingston says he is confident another group of owners will keep the NBL in Halifax, and he's also optimistic about his application for a team in Sydney.

Levingston has not chosen a name, but says he'll be holding a contest open to the public. The person who suggests the winning name will be awarded a season's pass.