Luuuc
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)

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Aussie  
Two years ago

Just looked up Robyn Denholm and found this:

Denholm debuted on The Australian Financial Review Rich List in 2021 with a net worth of A$688 million

Impressive.

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Perthworld  
Two years ago

Chairman of Tesla.

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KET  
Two years ago

Chair* you no doubt mean.

Reply #887390 | Report this post


Weedy Slug  
Two years ago

Partnering with Paul and Bogut aint a good business move.

Reply #887391 | Report this post


Dunkman  
Two years ago

I think I'd back a business deal with Bogut and Smith before believing someone on Internet forum.

Reply #887400 | Report this post




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