THEY are certainly not going out in a blaze of glory.
The NBL has confirmed the Gold Coast Blaze has entered voluntary administration with the league looking at viable options to maintain the club's presence.
If the Blaze was to withdraw, it would leave just two teams - the Cairns Taipans and the Townsville Crocs - left in Queensland.
Basketball Australia interim Chief Executive Scott Derwin said the club had acted in a 'responsible' manner in appointing administrator Roland Robson and said the league would be doing all it could to find an 'appropriate solution'.
"The ownership group of the Gold Coast Blaze advised me late yesterday that they had placed the club into voluntary administration, and had appointed Roland Robson from Aggs Robson as Administrator," Derwin said in a statement.
"The League understands that the Blaze took this difficult decision in order to act in a responsible, legal and ethical manner to try and find an appropriate way past their present financial difficulties."
The Blaze confirmed on its official website discussions were in place with a new, unnamed investor to engage in a process of promoting its 'restructuring plans' after current owners, the Tomlinson family, intimated the need for additional investors.
"Basketball Australia's priority is to find an appropriate solution quickly to the club's current situation that allows the Blaze to continue to play in the NBL and we will explore all reasonable options in our power to assist them in this process," Derwin said.
"The NBL is now seeking to meet with the Administrator as a matter of urgency in order to gather more information so we can formulate an appropriate position on the matter.
"Once we have reached this position we will communicate it publicly in due course."