EJ Harrison led Guildford's drive to the Trophy last season
Guildford Heat have gone into administration after the withdrawal of a major sponsor.
Alan McClafferty, MD of local business John Dennis Coachbuilders, has stepped in to save the club.
He said: "I felt that it would have been a great shame to let what has been achieved in terms of the club's presence in the community go to waste.
"I hope that the fans and sponsors feel the same way and continue to give the great support they always have."
Head coach Paul James will remain as director of basketball and all other staff employed by the club will remain in place.
The British Basketball League play-off champions face a vital few days on the court - they play the two legs of their BBL Trophy semi-final against Plymouth on Saturday and Wednesday.
The Heat are holders of the Trophy and are scheduled to host the final at the Spectrum on 15 March.