Luc Longley has joined fellow NBA legend Andrew Bogut as a part owner of the WNBL's Sydney Flames and the Sydney Kings, who are vying for back-to-back NBL championships.

Longley has served as a special adviser to Hoops Capital, the company that owns the Flames and Kings, since 2019 and often flies from his WA home to attend training and games.

He joins majority owner Paul Smith, Tesla chair Robyn Denholm and Bogut in the ownership group.

"I am proud to be formally joining the Hoops Capital ownership group," said Longley.

"I have always enjoyed my role with Hoops Capital. Paul and other key owners have always been prepared to break convention, innovate and trust (Kings CEO) Chris Pongrass and I to build a positive, winning culture."

Longley is Australia's most successful NBA export, winning three consecutive championships at the Chicago Bulls in the 1990s alongside Michael Jordan, Scottie Pippen and Dennis Rodman.

While playing in the NBA, Longley became a part-owner of the Perth Wildcats, where he made his professional debut in 1986.

Longley and former Australian basketballer Andrew Vlahov took ownership of the NBL franchise from businessman Kerry Stokes.

"To be able to have Luc as a business partner is a very special occasion for me personally," Smith said.

"We all hold Luc in the highest regard as an advisor and a friend."

The announcement comes one day after Hoops Capital revealed plans to partner with AFL team Sydney on the construction of a new sporting hub at the Royal Hall of Industries in Moore Park.

Hoops Capital is set to put specific emphasis on developing female participation and pathways at the hub, which is due to be completed early next year and neighbours the Swans' SCG home ground.