The future of WNBL runners-up Adelaide Lightning is assured with former chairman Bruce Spangler heading a new consortium to run the club.
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The Lightning's new owners have re-signed WNBL coach of the year Chris Lucas on a three-year-deal.
Former owner Grant Kelley relinquished the operating licence after he personally invested $1 million into the club over the past two years.
The new consortium says re-contracting Lucas was its priority.
"Chris has played an integral part in returning Lightning to its former glory, taking the team from last place to grand finalists in three years," Spangler said in a statement.
The new consortium had also locked in two sponsors for next season.
The Lightning's future was in doubt last November when Kelley announced his intention to hand back the licence.
The team then produced a fairytale on-court turnaround to win 13 of 16 games to reach the grand final series, which was won 2-1 by the Canberra Capitals.
Australian Associated Press
