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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Hotels, motels facing 150% plus council rates increases to fund Ateed
- The PM can say whatever he wants – NZ Super Fund chairwoman
- OPINION: Initial observations on the Dotcom decision
- Tourism Holdings to launch NZ first electric motorhome later this year
- OECD's energy agency calls for more renewables in transport, farming
Most listened to
- Land Rover's severing of ties with Dan Carter is ‘a template for the way in which these things should be handled’
- NZ Super Fund chairwoman Catherine Savage shrugs off the PM's criticism of her board
- Rick Shera - 'I suspect Kim Dotcom and his lawyers will be visiting the Supreme Court more than once'
- Judith Collins on the findings in the IEA's latest five-yearly review of energy policies
- Comvita CEO Scott Coulter on how Chinese regulations have hit the company hard
- NBR’s Campbell Gibson reports on a farming couple’s case against ANZ for interest rate swaps