Fans' hopes of keeping the Thames Valley Tigers alive in Bracknell appear to be over, report BBC Radio Berkshire.
Mike Davis, the man heading a fans takeover consortium, is now looking to open up a new franchise in Guildford, almost 20 miles away.
It comes after the group failed to reach an agreement with outgoing owner John Nike over a franchise licence.
"We have spoken to people in Guildford and are close to a deal and dates for next season from them," said Davis.
The consortium was formed after Nike's decision to pull out of both basketball and ice hockey earlier this year.
On Friday, John Nike said he had kept Mike Davis and his associates fully informed at every stage of the negotiations, and his legal team had been working quickly on the deal.
Nike also made it clear that he retains all rights over the Tigers name and copyright and remains hopeful a new backer will come in to take over the club.