AN NBL legend and one of Australia’s richest families are set to bring the Brisbane Bullets back to life.

Basketball great Larry Sengstock and businessman Paul Bendat are two of the directors listed under the company name “Brisbane Bullets Basketball Pty Ltd” which was registered with ASIC on January 8 this year.

Bendat’s father, Jack, is the owner of the Perth Wildcats and was No.70 on the 2014 BRW Rich List with an estimated fortune of $675 million.

US-born Bendat, 90, was a long-time business partner of Kerry Stokes, and made his fortune in construction and media in WA after moving his family to Australia in 1966.

He was made a member of the Order of Australia in 2009 and is renowned for his philanthropy.

His 64-year-old son is a successful businessman in his own right.

Sengstock is a four-time Olympian and five-time NBL championship winner, including the 1985 and 1987 titles as Bullets captain.

The NBL grand final MVP award is named the Larry Sengstock Medal, and he also served as Basketball Australia CEO.

Sengstock gives the club serious basketball clout and a strong connection to the glory days of the Bullets.

Interim NBL CEO Bret Mactavish declined interview requests from The Courier-Mail yesterday, but it is understood the NBL is preparing to soon announce Brisbane’s re-entry into the competition for the 2015/2016 season.

The Courier-Mail also understands the team would initially play at the Brisbane Convention Centre at Southbank, with a possible move to the Tennis Centre at Tennyson if the venue can be enclosed and air-conditioned.

The Bullets folded in 2008 when former owner Eddy Groves had to surrender the licence following the collapse of his childcare empire.

Many attempts have been made to revive the foundation club, but the lack of cold, hard cash torpedoed every well-meaning effort.

Finances will not be a problem with Bendat at the helm.

The Wildcats have bucked the trend in the NBL and across all major codes by recording seven-figure profits.

The powerhouse club has a bigger staff than the NBL itself and its philosophy of spending money to make money, continues to pay dividends.

They regularly attracts sellout crowds at the state-of-the-art Perth Arena which holds in excess of 10,000 people.

Former NBL CEO Fraser Neill guaranteed in The Courier-Mail in July last year that the Bullets would be back in 2015/2016 even if the NBL had to fund the club.

Brisbane successfully staged the pre-season Blitz tournament at Auchenflower at the start of this season – which Jack Bendat attended – to show the NBL that the city was serious about hosting a team again.