Long-time assistant coach Bill Tomlinson has been appointed head coach of the Sydney Kings following Brian Goorjian's departure.

Embattled owner Tim Johnston is looking to sell a majority interest in the NBL side and his controversial fuel technology company Firepower will no longer be a sponsor, The Daily Telegraph reports.

Former Kings owner Mike Wrublewski is working with Johnston to find a buyer after a cash-flow problem this past season.

"Tim understands clearly that the whole way the team has to be run needs to be changed," Wrublewski told the newspaper.

"Tim will hold on to a much, much smaller percentage of the team.

"The new structure will be completely different."

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