One of Western Australia's wealthiest men and most generous philanthropists has taken a controlling interest in the NBL Perth Wildcats.

Jack Bendat, who made much of his fortune in the media industry, was announced as the club's new chairman at Challenge Stadium on Wednesday.

The move ensures the club's long-term financial stability and could fast track plans for a potential move into Asia.

The Wildcats have played two NBL games in Singapore during the past two years and former majority owner Andrew Vlahov made no secret of the fact he wanted to push the club into that direction.

Vlahov will remain at Perth as the club's managing director.

Like many of the clubs in the National Basketball League the Wildcats have struggled financially in recent years.

Vlahov described the announcement as one of the most significant in the history of the franchise.

"It is a great day for WA, a great day for basketball and a great day for the Wildcats," he said.

He said Bendat was a passionate basketball and Wildcats supporter and had not wanted to see control of the club go outside of Western Australia.

However, he does not expect things to change significantly in the day-to-day running of the club.

"I do know that it is not a hands-on role, he made that clear. He doesn't really want things to change."

Vlahov would not reveal what percentage of the club Bendat had acquired.

Coach Scott Fisher said Bendat's input and resources could only help the club on and off the court.

Fisher is soon off to the US to spend time with LA Lakers super coach Phil Jackson.

He said although he may soon have more money to spend on his roster the club was happy with its two current imports - Shawn Redhage and David Bailey - and would not be seeking a big-name US player.

The Wildcats made the NBL semi-finals after an up-and-down season which saw assistant coach David Ingham part ways with the club just before the play-offs.

Fisher said the club was just starting to find itself in the past few weeks.

"I have had every player come up to me and say they cannot wait for next season. That is something I have never experienced in my 17 years in the league."

He light-heartedly said his imagination had begun to run wild with ideas on how to spend Bendat's money.

Perth's announcement comes at a time when the Hunter Pirates are on the verge of closing their doors.

There have been several interested parties in taking over the Pirates licence.

Brought to you by AAP © 2024 AAP