NBL owner Larry Kestelman says the Brisbane Bullets are on the market for between $5 million and $10 million but will only sell the club if he can find buyers who are in it for the right reasons.

Kestelman put his money where his mouth was two seasons ago when the NBL revived the Bullets after the club spent eight years in the wilderness following former childcare mogul Eddy Groves being forced to give up the licence.

But now the successful internet and property businessman is looking to sell his interests in both the Bullets and Melbourne United as he believes the NBL should not have majority ownership stakes in its teams.

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Kestelman – who bought his majority share of the entire NBL for $7 million in 2015 – has owned Melbourne for six years and values United at around $10 million with Brisbane likely to fetch less than that.

He is aiming to make the transaction during this off-season and has been encouraged by the preliminary interest from Australian and international consortiums.

At the very least, he wants to sell the majority share of the team but hopes to sell the entire club.

“We’ve now got a small prospectus available and we are talking to a number of business people, both local and overseas assessing the opportunity. There’s certainly a lot of interest in the licence,’’ Kestelman said.

“For me, it’s as much about who buys it rather than just the dollars. I’m very committed to getting the right ownership groups in place.

“Over the next 60-90 days I want to see what outcomes we can get… we were always going to start it and then go to market.

“My goal is match up that business with the right business people. This off-season, subject to me getting the right people involved, we will be selling.

“If I don’t find the right people, we will not sell but I truly believe we’ve got the right people in the room talking now that I would be comfortable with.’’

Kestelman said he was “not expecting the same result” from the sale of his two clubs.

“Realistically, it’s (Brisbane) a smaller market so I think it’s probably somewhere between the minimum being $5 million to the $10 million,’’ he said.

“Somewhere in that range is the number. We’ve invested a lot of time, money and effort to get that franchise up and running and give it a good start but there is still a lot of work to do.

“Melbourne is a more evolved business. We’ve spent six years on Melbourne and Brisbane it has been two.

“I generally don’t think the NBL should own clubs longer term. I’ve got no problem with the league starting clubs up if that’s what’s needed.

“In a perfect world I would have the league in no way having controlling interests of any clubs.’’

Kestelman said since the recent sale of the New Zealand Breakers to a US consortium, there has been increased interest in the Bullets, who played an exhibition game in Phoenix last October.

Brisbane has finished with the wooden spoon the past two NBL seasons.