Isaac
Years ago
Half of new NBL offered to private investors
Fifty per cent of the new National Basketball League Pty Ltd will be owned by the eight clubs, with the other half being offered to private interests.
"Some of that half will be taken up by the owners of the some of the existing clubs," says NBL interim chief executive Stephen Dunn. “We think that will give them a greater interest in the health of the entire league, rather than concentrating and making decisions in the best interests of just their own team.”
It is understood Pacific Equity Partners founder John Rickard Gardell will be one of the investors.
Among the club owners are BRW Rich 200 member Jack Bendat at the Perth Wildcats, former Dodo owner Larry Kestelman at the Melbourne Tigers and television presenter David Koch and Dick Smith investor Bill Wavish at the Sydney Kings.
He said three of the eight teams in the league now make small profits, another two are close to break-even status and the remainder rely on financial support from their owners.Full article
