Monday, June 17, 2024

Former Wests Tigers bosses buy stake in Newcastle Jets

Must read

Former Wests Tigers bosses Lee Hagipantelis and Justin Pascoe have bought a 25 per cent share in A-League club Newcastle Jets.

Maverick Sports Partners, a consortium of businessmen from Melbourne and Sydney, was unveiled as the Jets’ new owner on Tuesday.

Former Wests Tigers’ chief executive Justin Pascoe and ex-chairman Lee Hagipantelis.Credit: NRL Photos

Hagipantelis and Pascoe, the former chair and CEO who left the Tigers at the end of last year, recently acquired a 25 per cent stake in the newly formed Maverick Sports Partners, and as a result now own a quarter stake in the Jets.

“Today is a hugely significant day for this club and this community, as we confirm Maverick Sports Partners as the new owners of the Jets,” Newcastle CEO Shane Mattiske said.

“Over the last three years, we have built a strong foundation for the future of this football club, and it is exciting to be beginning a new era with incoming owners who believe in the opportunity that exists with this club, with this community and with football as a whole.”

The Australian Professional Leagues, the body that administers the A-League men’s and women’s competitions, had refused to guarantee Newcastle’s survival if new owners couldn’t be found. The new ownership group is headed by director Maurice Bisetto, who was involved in the establishment of expansion club Western United.

“We believe in this club, the A-Leagues and its players and we’re determined to build success for the Jets and this region,” Bisetto said.

“We have been impressed by the strength of football here in this region. We know there is a strong historical fan base and a strong participation base here and we want to bring all of these people together for our men’s and women’s games.”

The change of ownership and licence approval is subject to successful completion of the necessary approval and regulatory processes.

Latest article