Sydney Kings unveiled their star signing on Tuesday morning, with Andrew Bogut committing to a two-year deal and declaring himself retired from the NBA.
In what was described as a "transformational signing" and a "game changer" by the club, Bogut said he was with the Kings for the long haul.
Bogut, who had a glittering 13-year career in the NBA in the US, including a championship with the Golden State Warriors in 2015, said he wanted to return to his homeland while still near the top of his game.
"In the back of the mind was always not if but when I was going to come back to the NBL," he said.
"I feel like I've got a lot left in the tank and a I've still got a lot to offer the NBL."
Bogut's NBA career, where he was known as an excellent defender and rebounder, encompassed 695 regular season and 58 playoff games.
He has also been the key figure for the Australian national team, appearing in three Olympics (2004, 2008 and 2016) and the FIBA World Cup for the Boomers.
Bogut said he was not just coming to the NBL to sell tickets, and there was no chance he would leave if he received an offer from the US or Europe.
"The most important thing, not to put any pressure on him [coach Andrew Gaze] or us, I'm here to win games," he said.
"I want to win games — and sell tickets.
"We want to get this franchise back to where it belongs. I'm here for the long haul.
"There's no NBA outs in my deal, no European outs. I'm committed to being here for two years. So yes, that will retire me from the NBA."
With the NBA now home to a bevvy of talented Australians, Bogut said there was a chance his move could set a precedent for further big-name singings in the NBL.
"I'm not going to say who but there's already a couple of guys who have texted me and expressed an interest in doing the same thing, coming back after their NBA career," he said.