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Glenn takes 50% Warriors stake

NBR Rich Lister Owen Glenn has  taken a 50% stake in the New Zealand Warriors just before the club’s opening premiership match against Manly at Eden Park on Sunday.

The meeting was held last night between Glenn, NRL chief executive David Gallop and Warriors major shareholder Eric Watson.

Mr Glenn has made an unspecified "multimillion dollar" investment in the team. It is understood he has taken shares previously owned by Mark Hotchin.

It has been reported that representatives of Sky City, a major sponsor of the Warriors team, were in attendance at the meeting.

It is understood that Mr Glenn was keen to buy into the Warriors ahead of last year’s grand final.

Mr Glenn is keen to focus on player development and says there are plans to  at least double the $5 million invested in junior rugby league in the last four-five years over the next four-five years.

He is currently estimated to be worth over $1.1 billion.

Comments and questions
19

Hey Owen, how about adding the Otago Rugby Union to your portfolio ?

Gotta be a brave man to get involved with anything associated to watson.

Gotta be a brave man to get involved with anything associated to watson.

or blind

OK so Glenn hops into bed with Watson. But does he have to fondle him under the covers?

ezi come - ezi go......

Owen Glenn is a great,hardworking & honest man with excellent morals. He should be very careful mixing with Watson & Co.

Well I've always had the impression from his PR that Glenn was hardworking and honest but actions speak louder than words. Why would he snuggle up to Watson, Hotchin and co? Has he been mixing with them or did he approach them cold call? Quite strange really.

Maybe he just loves the aussie code . how good is the NRL . a lot of money to be made in NZ off the warriors .

It's Watson's ex girls.. those that get a bit old for Eric will be just the right age for Owen.

Give the man a break! He can do what he pleases at his age and with the money he has. Who knows, he probably does have to hold his nose around Watson but on the other hand it could be that Watson will be quietly edged out of the club soon.

Give the man a break! He can do what he pleases at his age and with the money he has. Who knows, he probably does have to hold his nose around Watson but on the other hand it could be that Watson will be quietly edged out of the club soon.

The devil will be in the detail of the purchase agreement. Mr Glenn is no fool, and will have a buy back or buy out provision, based on financial performance.

Good on him for stepping up to the plate. I would have had I the resources. Unfortunately Im $50 million short. This was a rather good opportunity, from I suspect very willing sellers.

Good way for a hardworking man to tarnish his image - watson is the last man you would want to be associated to, just to hear his name makes one cringe

Watson is a crook which must make Glenn an idiot.

Good on you, Mr Owen GLENN., after your political donations to the NZ Labour Party, under Ms Helen CLARK and the NZ First Party, under Mr Winston PETERS have denied receiving, have caused some controversy in New Zealand politics....
hope all Political Parties learn from this blunder!

I wonder how much Glenn gave Hotchin? I wonder if Hanover ever provided finance to Hotchin to own the Warriors in the first place? Owen Glenn should insist that all proceeds go to the ponzi scheme victims - namely the Hanover investors

Good comment. Hotchin broke the law and is a fraudster. how can this stake be sold when his affairs are frozen? He has stolen investors money.

I like Owen Glenn. Never met him but over the years he seems to be one of those dudes that keeps trying to give back to NZ. Some things have worked out - University of Auckland business school, some hockey tournament and now the warriors.

Some things not so good - politics. But I'm sure he has learnt from that.

If only he could buy out Watsons other half.