Chad McKnight, as expected, will not return as player-coach of the Guildford Heat next season after the club missed the play-offs in what has turned out to be his sole campaign in charge.
The American could, however, return solely as a player after being offered a tentative deal although it is understood he has yet to make a decision on his future.
The Heat have also confirmed that Julius Joseph and Mike Martin have accepted new one-year contracts to continue when their side moves to its new home at Surrey Sports Park, according to owner Alan McClafferty.
“Everyone is disappointed with our team performance this season. But we need to regroup and be more competitive next season," he said. "One change next season is Chad McKnight is stepping down as player-coach but I am hoping he will return as a key player. We are delighted to have re-signed Julius Joseph along with Mike Martin - two of the top ten British basketball players - and intend to use the summer period to recruit exceptionally talented players to join them in our BBL team.”
Mike Davies, the Heat's GM, admitted that losses had been made this season despite cutbacks last summer.
“Like all businesses in the current climate we have conducted a stringent review of our budgets," Davies revealed. "We have attracted a large amount of sponsors, thanks to the success of the Heat Business Club, the usual government funding which we had expected, was not available this year. This has put huge pressure on the club financially all of which has had to be covered by the owner.”