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Three NBA players have purchased a stake in the South East Melbourne Phoenix, which will debut in the NBL's 2019/20 season.

Three NBA players have bought a stake in the NBL's new franchise South East Melbourne Phoenix.

Zach Randolph, Josh Childress and Al Harrington have invested in the Phoenix, which will debut in the NBL's 2019/20 season.

"To have three NBA players, two of whom have also played in the NBL, invest in Phoenix is a great endorsement of the league," NBL chief executive Jeremy Loeliger said in a statement on Thursday.

"We believe the NBL is now one of the best leagues in the world outside of the NBA."

Randolph is an 18-year NBA veteran, Childress spent three seasons in the NBL and Harrington had a 2015 stint with the Sydney Kings.

"I have seen the strides the league has made and I felt compelled to be a part of that growth," Childress said in a statement.