Chris Pongrass has made the decision to step down from his role as Chief Executive Officer of Hoops Capital -- the parent company of the Sydney Kings and Sydney Flames -- he told ESPN on Monday.
Pongrass - widely regarded as one of the NBL's most respected executives - plans to transition out of the position over the next six months, with an eye toward assisting the organisation's ownership in finding his successor.
"I think the time is right for me," Pongrass told ESPN.
"The organisation is set up for success, and I'm privileged to have been a part of that for so long, and play such a major role in getting it to this point.
"In saying that, it's time for me to find the next big opportunity for me and my family, and help in a transition to find the next person to carry the torch and carry on the legacy of the Kings."
The 37-year-old has had immense success - primarily with the Kings - over his seven-year stint at the helm of Hoops Capital, winning two NBL Championships (2022, 2023), signing a pair of eventual NBL MVPs (Jaylen Adams and Xavier Cooks), and helping to guide seven players to NBA contracts.
"Both championships were incredible moments," Pongrass said.
"The second championship, and the challenges we faced in that year but, particularly in that Championship Series: a Game 5 at home, being down seven with a couple of minutes to go and the comeback. Winning that championship back-to-back and reflecting on that. The first one, I don't think I did a very good job at embracing winning; I would just shift my mindset into what's next, next season. In that second year, I took a lot of time and appreciation in winning it, and enjoying the moment more."
Jae'Sean Tate, Didi Louzada, Andrew Bogut, Jaylin Galloway, Xavier Cooks, Makur Maker, and Brian Bowen II all earned NBA contracts during Pongrass' time as CEO, while Alex Toohey is expected to join that list once the 2025 NBA Draft takes place.
Under Pongrass' leadership, the Kings also saw one of their head coaches in Will Weaver join an NBA coaching staff, as well as assistant coach Fleur McIntyre move into the front office of the WNBA's Phoenix Mercury.
"Chris has been instrumental in elevating Hoops Capital to the organisation it is today," Robyn Denholm, majority owner of Hoops Capital, said.
"His vision and dedication have not only brought championships but have also solidified our position as a leading force in Australian basketball."
Prior to joining the Kings, Pongrass spent six seasons with the Memphis Grizzlies in the NBA, finishing his time with the franchise as its Director of Basketball Operations.
A native of Sydney, he would join his hometown Kings at the age of 30 ahead of the 2019-20 season, and achieved immediate success.
"It was a full circle moment for me going from Sydney over to the Memphis Grizzlies, and spending such a long time over there, to then come back and get a job in my home city, for the team I grew up watching, going to games, and being such a fan of," Pongrass said.
"At such a young age, being given the opportunity to run the organisation and put my stamp on it has been incredible.
"I've made relationships with players, our coaching staff, ownership; the Denholm family, Paul [Smith] and Paul [Kind], working alongside Luc [Longley] and Andrew [Bogut] and our entire ownership group. And especially Luc and Andrew, learning from some amazing basketball minds. I feel like I'm privileged to have the opportunity to be involved with such a unique club."
Pongrass will remain with Hoops Capital for the coming months as the organisation searches for new leadership, and the plan is for him to give guidance during that process.
Pongrass has yet to make a decision on what will come after his time with the Kings and Flames but, given his success in Sydney - which came after a long stint with an NBA team - he's expected to have a plethora of options across the sporting landscape, and from all corners of the globe.
"My immediate future is I'm still here with the Kings and Flames, and supporting a transition and helping to find the next person to carry the torch," he said.
"I'm excited about the opportunities that may come from it, whether it's back in the U.S., whether it's international, or whether it's looking at other areas of sport, I'm not sure yet. I'm excited I have this period of time to help transition and make sure the business is supported, but also to look at my own path and determine what the next best thing is."