NBL CEO Jeremy Loeliger says the $5 million-plus price tag on the Brisbane Bullets is not too high despite the club being on the market for more than six months.

NBL owner Larry Kestelman said in April the Bullets were up for sale for $5-10 million.

In that time, the NBL has found owners and part-owners for the new Melbourne team, which will start in the 2019-20 season, and reigning champions Melbourne United.

Kestelman and his team headed by Loeliger put their money where their mouth was and brought the Bullets to life for the 2016-17 NBL season after the foundation club had been in the wilderness for eight years.

They also bought a controlling share of the NBL for $7 million in 2015 and have revived the once-flagging competition.

Loeliger said the NBL went “very, very close” to selling the Bullets to one consortium during the off-season but talks “lost steam’’.

“The Bullets is a slightly smaller market than Melbourne but it’s got great brand equity. When you break it down … by global standards it’s not a high asking price at all,’’ he said.

“It’s still on the market and there’s some pretty viable conversations taking place at the moment.

“There’s more than one interested party but those sorts of conversations have happened a few times in the past six months and it hasn’t resulted in a transaction.

“There’s a fair bit of due diligence happening.

“We are not in any mad rush. It wouldn’t be the worst outcome if we continued on for another season (as owners).

“We are not going to privatise it into the hands of just anyone. It would be completely contrary to everything we said we were going to do which was make it viable and then find the right owner for it.’’

Loeliger said there had been international interest but would like to pair that with local owners.

A good 2018-19 season for Brisbane would also help.

“We want them to be as successful as possible for a couple of reasons. One, is because we want Brisbane to remain a really important market for the NBL and secondly, it’s going to help our asking price because everyone wants to buy a successful team,’’ he said.