Former Canberra Cavalry general manager Fraser beat more than 50 applicants on Tuesday night to be capital's new basketball boss and is preparing to start a two-year tenure to build on record participation numbers.

NBL Hall of Famer Cal Bruton is working on a bid to get the Cannons back in the elite men's competition more than a decade after they went bust.

The NBL is keen to expand and is calling for expressions of interest from potential teams.

Fraser is yet to speak with Bruton, but admitted he would be "very, very excited" if the consortium was successful in bringing elite men's basketball back to Canberra.

"Anything along those lines, I'd be very, very excited to see it happen," Fraser said of the NBL bid.

"But you have to make sure there's financial viability and it's sustainable, the last thing you want is to get a team in Canberra that folds after two years and sets you right back.

"If it can be proven it would be a full sustainable model, I think the opportunities are fantastic. It's about getting all your ducks in a row before you jump. The more people that talk about basketball, the better it is for the sport."

Fraser will start with Basketball ACT next month, replacing current chief executive Tony Jackson.

Jackson will work with Fraser in a handover process before departing at the end of the under-18 national championships.

Under Jackson's watch, the sport has experienced record participation numbers and WNBL side the Canberra Capitals turned a small profit for the first time in their history.

"The thing I really want Basketball ACT to achieve is to be the No.1 sport in Canberra from grass roots to elite," Fraser said.

"We want to offer pathways all the way through and appeal to people right across the spectrum from social, to juniors and to more of a representative and elite level."

Fraser is finishing his legal qualification at the University of Canberra and was the Cavalry boss for the inaugural Australian Baseball League.

He was also a business development manager for the NRL, chief executive of the Tasmanian Cricket Association, general manager of ACT AFL and Netball NSW and worked with women's Hockey Australia.

Basketball ACT is negotiating a merger between the Capitals and the University of Canberra.

The university is set to take ownership of the Capitals for the next WNBL season and Fraser will be a part of talks.

"The basics are there for the sport, they just have to be honed a little bit," Fraser said.

"We just have to identify where we can take the sport to where it can be. Tony Jackson has done a fantastic job and now it's about taking advantage of what he has done and trying to capitalise further."