Fortuneofwar
Last week

Tasmania's NBL team JackJumpers sold

The ABC reports:

NBL owner Larry Kestelman struck a deal on Friday to sell Tasmania's reigning NBL champions the JackJumpers to a private capital firm.

Altor Capital will initially hold a majority stake in the JackJumpers, before taking full control in two years' time.
What's next?

A chunk of the proceeds from the sale will go towards the development of the Wilkinsons Point precinct in Hobart — the site of the JackJumpers' home stadium My State Arena — which include plans for a hotel and convention centre.

https://www.abc.net.au/news/2025-02-22/larry-kestelman-sells-tasmanian-nbl-jackjumpers-to-altor-capital/104946484

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word14  
Last week

Had heard word about this for a little while but didn't say anything because I wasn’t 100%. Seems as if what I had been told was right, great for the JJs

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AlexK  
Last week

Private equity investor.


What could go wrong.

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KL  
A few hours ago

Specialise in emerging growth sectors which aligns with Larry's NBL vision. Whether yield expectations of clients necessarily requires on court success is something we will have to wait and see. Normally the strategy would be to grow the investment itself which would mean growing revenues from enhanced infrastructure (stadium capacity), games revenues, sponsorships, merchandise, media revenues etc. which ultimately does require on court success and investment in the team itself. From what the ABC has reported Larry has got the assurances he wanted from this buyer to maintain the culture and fabric of the club. Says he could have got significantly more from other buyers.

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