Basketball Australia chairman Ned Coten will lead the taskforce, which will also comprise of figures from the National Basketball League (NBL), Women's National Basketball League (WNBL) and state associations, as well as players.

Larry Kestelman, owner and executive chairman of the NBL, is among the prominent figures to join the taskforce.

Allan Yates - President of Basketball Australian Capital Territory - Tony Hallam, chairman of the Melbourne Boomers WNBL team, Nicola Ellis, who chairs the Basketball Queensland Board, ex-NBL player and Commonwealth Games champion Jacob Holmes, Basketball Australia chief executive Jerril Rechter and Brian Delaney, who sits on the Basketball Australia Board, are all on the taskforce.

Basketball Australia said that three "independent business figures" - Ruffy Geminder, Diane Smith-Gander and Rickard Gardell - are also members of the taskforce.

It is aiming to develop a recovery plan for Australian basketball.

"We are very mindful of the millions of Australians doing it tough and, quite rightly, they are the number one priority to support right now, particularly those who have lost their jobs and are suffering financial hardship," Coten said.

"Basketball is not immune to the impact of the COVID-19 and, like the rest of the community, we need to do everything we can to get through these challenging times, but also work together to restart the sport when the time is right."

Coten added that basketball, with more than 1.5 million participants in Australia - 38 per cent of whom are female - was the nation's "number one family sport".

"The game employs tens of thousands of people across the country and generates significant economic impact as well as a range of health and social benefits for the wider community across both genders and all ages that will be needed more than ever as we recover."

The sport has come to a standstill in Australia because of measures put in place to stop the spread of coronavirus, which include a ban on mass gatherings.

Kestelman said that the sport "can play a crucial role in getting the country active and back to normal" because many Australians have a basketball hoop at home, but that "we need help more than ever" in the face what could be a significant drop in income..

"Unlike other codes, basketball cannot fall back on revenue from television if restrictions are still in place to crowds and would need assistance," Kestelman reasoned, because"basketball leagues do not derive the bulk of their revenue from broadcast agreements."

"We are not seeking special priority, but rather simply asking not to be forgotten to ensure we can continue to deliver the sport that we and so many Australians love."