The Brisbane-based team was placed into liquidation on Wednesday, but the club was able to secure sponsorship funds late on Thursday after crisis talks were held between Basketball Australia, WNBL, club officials and the Logan City Council.

It means the club will play its remaining five games of the season and potentially finals.

South East Queensland sits in fifth position with an 11-8 record, open win behind the Bendigo Spirit (12-8).

They play the Adelaide Lightning tonight and Perth Lynx tomorrow night, both games on the road.

Four-time Olympian Heal was sensationally sacked as part of the rescue package.

In a statement rekeased on his Twitter account, Heal said he was glad the gield would get the chance to finish their season and he hoped the franchise would remain beyond 2015-16.

“I’m advised that there is a sponsor contributing these needed funds, with one of the conditions being that I don’t continue as coach for the rest of the season,’’ Heal said.

“I’m just happy that the team will be able to finish the season and while I’m obviously disappointed, the game is bigger than one person."

The resolution was a win for the Bendigo Spirit, which continues to hold the series advantage over the Stars, with wins in two of their three meetings this season.

As talks progressed on Thursday, Spirit general manager Adam Tarr said it was hoped the Stars would play out the season.

He said the Star’s financial woes had come as a shock to the Spirit as it would have all WNBL clubs.

“No one was really aware what was going on up there from a financial standpoint,” he said.

“We knew they were pretty competitive on-court – fifth on the ladder, started the season really well – it was an exciting time for basketball in south-east Queensland in terms of putting a WNBL team on the court.

“The best case scenario is they finish off the season and play out their last five games.”