Lovebroker
Two months ago

Grant Kelley sells stake in the 36'ers. Club valued at $7.2m

https://indaily.com.au/news/2020/09/09/consortium-buys-stake-in-adelaide-36ers/

A consortium of international and local investors has bought a 19 per cent share of the Adelaide 36ers, potentially freeing up the basketball franchise's chairman and owner Grant Kelley for a run at the soon-to-be-vacated Adelaide Crows chairmanship.


Led by Adelaide 36ers General Manager of Basketball Jeff Van Groningen, 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.

The equity interest was sourced to provide for future expansion of the 36ers and is based on an initial valuation for the Club of $7.2 million.


I don't know if the article is saying the new ownership group is lead by JVG.

But it's good that the club was able to find new deep pocketed investors.

Onwards and upwards from here.

Personally I find the $7.2m valuation rather high, but I am not privy to the books.

Topic #47611 | Report this topic


Dave  
Two months ago

Looks like an internal valuation, if I have ever seen one.

Reply #816995 | Report this post


Camel 31  
Two months ago

Seems a little bit high.
Kelley's done well out of it.

Reply #816996 | Report this post


Luuuc  
Two months ago

The Adelaide 36ers are easily worth > 878245000 social media impressions

Reply #816997 | Report this post


Anonymous  
Two months ago

Looks like good basketball news in a bleak time for basketball.

Reply #816998 | Report this post


Zodiac  
Two months ago

The language and details in these announcements always leave a lot to be desired but Kelley would still own 81% of the club given he owned 100% prior to this so in what possible way is reducing his ownership portion from 100% down to 81% "freeing him up" for a run at the Crows chairmanship?

Anyway even though it's only a 20% share good to see a number of new investors investing in the club.

Reply #816999 | Report this post


Anonymous  
Two months ago

Is the lightning apart of 36ers?

Reply #817000 | Report this post


Anonymous  
Two months ago

Thoughts are with the crows in these hard times.

Reply #817008 | Report this post


Perthworld  
Two months ago

I got excited reading the first three words of the subject and I'm not even a Sixers supporter. Too bad it's only a stake, as the guy has only been involved with the club for two seconds yet already distracted by a rival sport.

Reply #817009 | Report this post


Anonymous  
Two months ago

"A consortium of international and local investors has bought a 19 per cent share of the Adelaide 36ers".. for approx $2mill? Wow. Paid way to much. They could have bought 100% of Illawarra for that amount ;) Oh that's right LK onsold another "great deal" to soonme more wooducks. LK trying to keep the League a viable option before it is done forever.

Reply #817011 | Report this post


Anonymous  
Two months ago

More smoke and mirrors

Reply #817015 | Report this post


Anonymous  
Two months ago

Good to see continued investment interest in the league.

Interesting that JVG is now part-owner, I guess that entrenches him as the GM for as long as he wants? Haha

Reply #817024 | Report this post


Anonymous  
Two months ago

Unusual to see JVG put in his own money if true.

Reply #817028 | Report this post


Jack Toft  
Two months ago

$7.2 M does seem high for a valuation, but it's pretty much what market dictates. I was approached as part of the SOS Consortium and the value was much lower then, but times have changed

Reply #817038 | Report this post


Anonymous  
Two months ago

Yep. LK just sets a price. Way over valued.

Reply #817055 | Report this post


Anonymous  
Two months ago

Got a great deal then. A team with question marks on court, questions that still have never been answered off court in regards to a toxic culture and in a league that we don't even know if it will start. Throw in no TV deal and it's pretty steep.

Reply #817059 | Report this post


shake n bake  
Two months ago

7.2m really for the 36's... That must mean the Taipans are worth 8m?? Tell him his dreaming...

Reply #817328 | Report this post


Camel 31  
Two months ago

'An out there kinda guy, in the same mould as Eddie Mcguire.'
(KG and Cornesy talken, on radio, about Grant kelley as a possible crows chairman.

Reply #817808 | Report this post


Zodiac  
Two months ago

How the hell could the Crows be seriously considering Grant Kelley as chairman after what he did to Mitch Creek?

Reply #817810 | Report this post


Anonymous  
Two months ago

Why would the Crows care about that?

Reply #817823 | Report this post


Zodiac  
Two months ago

You serious? Arguably one of the worst dog acts an owner/administrator has ever done to one of his own players going all the way to the Supreme Court to try and block him from realising his dream to play in the NBA.

No matter his connections nor how blue his blood I doubt the Crows would be dumb enough to do it, the PR fallout would be big.

Reply #817824 | Report this post


Anonymous  
Two months ago

Yet he's nominated. Go to Bunnings buy some wood, build a bridge and get over it.

Reply #817827 | Report this post




 

Reply to this topic

Random name suggestion for anonymous posters: Mimas 14

Rules:You must read the Terms of Use. No spam, no offensive material, no sniping at other clubs, no 'who cares?'-type comments, no naming or bashing under 18 players. Learn how to embed YouTube videos or tweets

Please proof-read your post before submitting as you will not be able to edit it afterwards.



Close ads
Beam Orders - a quick, simple order and payments site for your business.
Punch - insightful time tracking
Dunk.com.au - Custom basketball uniforms

Advertise on Hoops to a very focused, local and sports-keen audience. Email for rates and options.

Recent Posts



Invoicing clients? Stay productive with Punch, the insightful time tracker that earns you more.

Special offer: $30/month Pay $100 for lifetime access. Sign up now!

.


An Australian basketball forum covering NBL, WNBL, ABL, Juniors plus NBA, WNBA, NZ, Europe, etc | Forum time is: 10:38 pm, Tue 24 Nov 2020 | Posts: 849,731 | Last 7 days: 741