Two years ago
Sydney Kings & Flames Welcome New Investors
Hoops Capital Pty Ltd, owners of the Sydney Kings and Sydney Flames have announced an investment from Wollemi Capital Group.
Wollemi Capital Group (WCG), the Denholm Family investment office, aims to build a long-term partnership with the shared goal of growing women's and men’s basketball across the country.
The investment means Robyn Denholm, the Chair of Tesla and former Telstra CFO will become one of the first female owners of a sports team in Australia.
Under the proposed deal, former NBA champion and Kings great Andrew Bogut retains his existing stake in the company and three-time NBA champion and Australian basketball legend Luc Longley will continue to provide guidance and advice to the ownership group in his role as a special advisor.
Chairman and majority owner of Hoops Capital Paul Smith said the agreement marked a major milestone for the growth of the company, its vision and the future of basketball in Sydney and Australia more broadly.
Full article on nbl.com.au
Article in The Australian (paywalled)