National coach Brian Goorjian named a team which boasts members who play around the world including NBA star Andrew Bogut, who this week signed a $76 million contract.

The 32-year-old Saville was delighted to fight off some younger challengers to earn a second crack at an Olympic medal.

"It's a great honour for me and my family to be named in the team, and quite a relief as well," Saville said.

"Despite being in the team that went to Athens I was never a certainty to make this team and we had some really talented guys that didn't make the final cut.

"There has been a bit of late-night staring at the ceiling going on and it will be nice to get a good night's sleep, actually."

A testing European tour has left the Boomers with plenty to work on ahead of the Olympics and they will only get their full squad together eight days out from the Games.

"Our preparation has been intense and we've had good wins against Iran, New Zealand, Croatia and Brazil but we've still got a lot of work to do before our first match at the Games," Saville said.

"I think we are capable of getting a medal but we'll have to upset some very good teams to do it."

Saville takes the Illawarra contingent going to the Games to six with kayaker David Smith, hockey star Casey Eastham, Kiama quad sculler Zoe Uphill and footballers Ruben Zadkovich and Adam Federici already selected in the Australian team.

The basketball squad face a tough road to get out of their pool but coach Goorjian believes the Olympic team is the most talented Australian squad he has put together.

"The challenge we face now is learning to play together," Goorjian said.

"The quality of players and the depth of experience we have is really exciting, but when Bogut joins us, we've got just eight days to make it work."

The Boomers will go into camp on the Gold Coast on Monday before heading to China on July 27 for another warm-up tournament and a clash with the United States' Dream Team in Shanghai on August 5.