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Highly-touted youngster Josh Giddey joins Deng Adel, Xavier Cooks, Mitch Creek, Chris Goulding, Isaac Humphries, Jock Landale, Mitch McCarron and Mitch Norton as representatives from the domestic league named in head coach Brian Goorjian's squad.
Former Perth Wildcat Nick Kay and former Brisbane Bullet Will Magnay have also been included in a roster set to be halved to a final team of 12 later in the year.
Goorjian, also currently coach of the Hawks, spoke to the diversity of skills and experience in the squad as well as the presence of players from the NBL as a sign of the league's progression.
“It is a well-balanced squad selected by position with a nice blend of experience coupled with a lot of new and exciting players coming through," Goorjian said.
“These are our top 24 available players and included is significant representation from the NBL, showing the strength of our local league where the standard of competition is recognised worldwide.
“I have spoken to each player over the past fortnight and have been extremely impressed, to a man, by their overwhelming desire to play for Australia in Tokyo.”
If the Tokyo Games go ahead, they will be the fourth Olympics for veterans Patty Mills and Joe Ingles, who voiced their desire to lead the team as senior players in a joint statement.
"We are both excited to again be named in the Australian Boomers squad and we are determined to lead this group of both veteran experience and exciting younger talent to an elusive Olympic Medal."
Superstar guard Ben Simmons also spoke on the honour of being named in the squad and the prospect of representing Australia.
"It would be an amazing honour to play for my country," Simmons said. "I know things are uncertain right now but I've been in touch with Coach Goorjian and we're hopeful I can join the Boomers."
The Boomers have been drawn in Group B with Nigeria for the Olympics, as they wait for two more teams to be added due to ongoing qualifying.
Australian Men's Tokyo 2020 Olympic Squad
Deng Adel - Hawks (NBL)
Aron Baynes - Toronto Raptors (NBA)
Ryan Broekhoff - Free Agent
Xavier Cooks - Sydney Kings (NBL)
Mitch Creek - South East Melbourne Phoenix (NBL)
Matthew Dellavedova - Cleveland Cavaliers (NBA)
Dante Exum - Houston Rockets (NBA)
Josh Giddey - Adelaide 36ers (NBL)
Chris Goulding - Melbourne United (NBL)
Josh Green - Dallas Mavericks (NBA)
Isaac Humphries - Adelaide 36ers (NBL)
Joe Ingles - Utah Jazz (NBA)
Nick Kay - Real Betis (Spain)
Jock Landale - Melbourne United (NBL)
Mitch McCarron - Melbourne United (NBL)
Will McDowell-White - Rio Grande Valley Vipers (NBA G-League)
Will Magnay - New Orleans Pelicans (NBA)
Thon Maker - Free Agent
Patty Mills - San Antonio Spurs (NBA)
Brock Motum - Galatasaray (Turkey)
Mitch Norton - Perth Wildcats (NBL)
Duop Reath - Crvena Zvezda (Serbia)
Ben Simmons - Phildelphia 76ers (NBA)
Matisse Thybulle - Phildelphia 76ers (NBA)
