In a statement released on March 19, Basketball Ballarat opted not to participate in the upcoming season due to health risks presented by COVID-19.

The decision proved a wise one in the coming days, with a number of programs pulling the pin before the NBL1 ultimately cancelled the forthcoming season on March 24.

Eddy said he was assured prior to withdrawing that Basketball Ballarat would not be penalised for its decision.

"Basketball Victoria made it clear that if any association couldn't continue under the impending crisis, they would still have automatic rights for 2021 and beyond," he said.

Eddy lifted the lid on the decision on Wednesday, telling The Courier a number of economic factors were considered prior to withdrawing from the competition.

"The issues were that we had to make a call on flying three athletes into Australia which was going to happen in that same week," Eddy said.

"That meant having to pay for their airfares, locking in accommodation, which meant if they couldn't get home we'd have to sustain them in Ballarat for the season."

After summing up the situation, Eddy said it was important Basketball Ballarat did not to give fans, sponsors or players false hope to season would operate as usual.

"We made the call on NBL1 and we knew other associations were in the process of making the same decision and we knew there was an emerging trend that the elite team programs would not be sustainable this year," he said.

"Having gone through the GFC and a range of other issues in different parts of our business over man years, you know enough to know when your first priority is to stop spending, minimise costs for the betterment and protection of the organisation going forward.