NSW Premier Mike Baird might have announced the government would repeal legislation to close the industry from July next year, but many factors in the industry’s future remain unknown.

The Greyhound Industry Reform Panel’s five members have been announced with former NSW Labor premier Morris Iemma to head the the five-person group.

He will be joined by RSPCA chief executive officer and industry representatives who will report back to the NSW Government on how to reform the sport.

It is early days for the panel, with much to still be decided for the sport’s future, including which greyhound tracks are viable.

Greyhound Breeders Owners and Trainers Association operations manager Ellen Harris said a range of advisors have been called on by the panel to provide additional information.

She said a number of guarantees put forward by the NSW Greyhound Racing Industry Alliance will also be considered by the panel.

The panel will also consider information included in Commissioner Michael McHu​gh’s report on the Special Commission of Inquiry into the Greyhound Racing Industry in NSW.

And while much will be considered, Ms Harris said there were no guarantees about which tracks will remain.

“The panel will decide a whole range of things, but the exact footprint might come back to Greyhound Racing NSW,” she said.

“There are pros and cons to every track in Australia, let alone New South Wales.”

Despite the ongoing uncertainty, Ms Harris said the industry is more positive now than when they thought a ban was imminent.

“People certainly appreciate it’s a better position than where we were,” she said.

The finer details of the reversal of the ban on greyhound racing may still be unknown, but there is speculation that there will be a $1500 bond for every dog bred, breeding will be capped to 2000 and the number of tracks will be reduced.

There will also be a reduction in the number of races and a whole-of-life dog cycle management put in place.