Adelaide 36ers Chairman and Owner Grant Kelley has announced the sale of a 19% equity interest in the Adelaide 36ers to a consortium of international and local investors, led by Adelaide 36ers General Manager of Basketball Jeff Van Groningen.
The capital was sourced to provide for future expansion of the Club, and is based on an initial valuation for the Club of $7.2 million.
The group’s most significant investor is Canadian sports marketing businessman Jacob Burke, while former prominent Nashville music executive, Dale Bray, now based on the Gold Coast, is also part of the group. Additional investors from Spain, New Zealand, the United States and Australia bring added sports and business experience to the group.
Grant Kelley believes this investment will add to the value proposition for the Club, helping the 36ers to continue to move forward positively.
“We are heading into a new era with a new coach, new playing squad, and new arena. This investment into the club recognises the tradition of success, and strong future potential, of the 36ers franchise. The move also consolidates the involvement of our championship-winning General Manager, Jeff Van Groningen, in the Club, helping it move forward and continue to be a powerhouse in the NBL,” Grant said.
Jeff Van Groningen said this has been a tremendous process. “Jacob Burke and I were humbled by the level of interest we had by those wanting to participate – there was far more interest than availability. This speaks to the Adelaide 36ers dynamism, vibrancy, history and future, and it all comes back to Grant Kelley’s tremendous passion for the club, demonstrated by his turnaround of the Club over the past four years”
“We are grateful for the opportunity to invest in the Club, be part of what Grant is building, and contribute to its success. We also believe strongly in the vision of the NBL that Larry Kestelman is building, the league has gone from strength to strength under his leadership,” Jeff concluded.
NBL Owner and Executive Chairman Larry Kestelman said, “We welcome the new minority ownership group to the Adelaide 36ers made up of international and local investors.
The 36ers are an integral part of the NBL and enjoyed record attendances last season at the Adelaide Entertainment Centre. The Hungry Jack’s NBL is now considered one of the best leagues in the world outside of the NBA and this investment is a further endorsement of its huge growth and success in recent years.”
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