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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.