New Ownership
Melbourne Storm has radically changed its ownership structure, with majority shareholder Bart Campbell halving his stake and negotiations opening with David Argyle, the billionaire mining magnate owner of the Toronto Wolfpack, to take a share.
Online wagering pioneer Matt Tripp is expected to be the new chair of the 23-year-old club which is preparing for the eventual retirements of coach Craig Bellamy and captain Cameron Smith.
Tripp will meet Australian-born Argyle in the north of England on Friday night when Warrington Wolves host the Toronto Wolfpack in a Super League battle of the canids.
A relationship between the Storm and the Wolfpack would allow an international exchange of players and coaching know-how, as well as the guaranteed capitalisation of both clubs and accelerate Argyle's push into the United States where he has long harboured the ambition of establishing a rugby league team.
However, the Storm is now owned by four Melbourne-based businessmen with significant personal wealth, meaning any buy in by Argyle would be on their terms.
Argyle signed dual international Sonny Bill Williams to a two-year contract reportedly worth $10m, an extravagant outlay for a 34-year-old player who came off the bench for the All Blacks in the Rugby World Cup last year. Considering Cameron Smith earns $1m a season, including sponsorships, outlays of the Sonny Bill magnitude would raise eyebrows with even the richest owners of Australian football clubs.
Under the Storm's new equity structure, Tripp, Campbell and Gerry Ryan, the "caravan king", will each own 25 per cent.
Another Melbourne businessman, Brett Ralph, who owns the 1,000-vehicle transport company Jet Couriers with his brother Shaun, will take 20 per cent. The remaining five per cent will sit with a new owner yet to be endorsed by the NRL.
Tripp said from London: "I am excited about the new ownership structure by welcoming two new owners into the mix."
Matt Tripp is expected to become Melbourne's new chair.
Matt Tripp is expected to become Melbourne's new chair.CREDIT:LUIS ENRIQUE ASCUI
Should Argyle join the consortium, Tripp, Campbell and Ryan would each surrender a fifth of their individual equity to him, meaning Argyle would own 15 per cent, leaving four owners with 20 per cent each.
In that scenario, the Storm will be at least 85 per cent owned by Melbourne businessmen and led by chief executive, Dave Donaghy, who has remained loyal to the Storm despite the interest of other NRL clubs.
The Ralph brothers, whose Jet Couriers have branches in Australian capital cities, as well as Dallas, New Jersey, Philadelphia, Houston and Auckland, also own the Melbourne Aces baseball team.
The Aces recently won the Claxton Shield, the premier trophy of the reborn Australian Baseball League, and will hold the Ralph brothers equity in the Storm.
Tripp recently sold his remaining share in online betting company, BetEasy to Canadian wagering behemoth the Stars Group and will have time to devote to steering the Storm over the next decade.
Ryan, with interests in hotels, theatre productions, wineries, a Tour de France cycling team, racehorses, as well as founding Jayco, is estimated to be worth $500 million but is time poor and is relieved Tripp will take a more active role.
Campbell, a New Zealand born barrister and sports entrepreneur, has chaired the Storm since inaugural owner News Corporation sold it in May 2013.
He has halved his equity in the club as he pursues other business interests including chairing Brick Lane Brewing Company, a leading independent Victorian brewery.
Jet Couriers have been sponsors of the Storm for 16 years, taking a corporate suite next to the coach's box occupied by Bellamy.
As such, they have been exposed to his passion and commitment - an inspiration for staff and a cause for the buy in by the Ralph brothers.
Bellamy is not expected to take a full-time position as a coach anywhere when his current contract concludes in 2022 and he has a close association with Tripp. Bellamy can be expected to have significant input into future major decisions.
Bellamy's work ethic knows no limits. He recently called the Storm's video man at 10.30pm complaining about 30 seconds of missing vision of a game.
"But it's only half a minute of vision missing," the video man protested.
"That's three play-the-balls," Bellamy fumed. "I could learn alot in that 30 seconds."
John Ribot, the inaugural executive chairman of the Storm, said, "The ownership changes mean we have working class guys who have done well leading a club in a working class game which can get even better."
Online wagering pioneer Matt Tripp is expected to be the new chair of the 23-year-old club which is preparing for the eventual retirements of coach Craig Bellamy and captain Cameron Smith.
Tripp will meet Australian-born Argyle in the north of England on Friday night when Warrington Wolves host the Toronto Wolfpack in a Super League battle of the canids.
A relationship between the Storm and the Wolfpack would allow an international exchange of players and coaching know-how, as well as the guaranteed capitalisation of both clubs and accelerate Argyle's push into the United States where he has long harboured the ambition of establishing a rugby league team.
However, the Storm is now owned by four Melbourne-based businessmen with significant personal wealth, meaning any buy in by Argyle would be on their terms.
Argyle signed dual international Sonny Bill Williams to a two-year contract reportedly worth $10m, an extravagant outlay for a 34-year-old player who came off the bench for the All Blacks in the Rugby World Cup last year. Considering Cameron Smith earns $1m a season, including sponsorships, outlays of the Sonny Bill magnitude would raise eyebrows with even the richest owners of Australian football clubs.
Under the Storm's new equity structure, Tripp, Campbell and Gerry Ryan, the "caravan king", will each own 25 per cent.
Another Melbourne businessman, Brett Ralph, who owns the 1,000-vehicle transport company Jet Couriers with his brother Shaun, will take 20 per cent. The remaining five per cent will sit with a new owner yet to be endorsed by the NRL.
Tripp said from London: "I am excited about the new ownership structure by welcoming two new owners into the mix."
Matt Tripp is expected to become Melbourne's new chair.
Matt Tripp is expected to become Melbourne's new chair.CREDIT:LUIS ENRIQUE ASCUI
Should Argyle join the consortium, Tripp, Campbell and Ryan would each surrender a fifth of their individual equity to him, meaning Argyle would own 15 per cent, leaving four owners with 20 per cent each.
In that scenario, the Storm will be at least 85 per cent owned by Melbourne businessmen and led by chief executive, Dave Donaghy, who has remained loyal to the Storm despite the interest of other NRL clubs.
The Ralph brothers, whose Jet Couriers have branches in Australian capital cities, as well as Dallas, New Jersey, Philadelphia, Houston and Auckland, also own the Melbourne Aces baseball team.
The Aces recently won the Claxton Shield, the premier trophy of the reborn Australian Baseball League, and will hold the Ralph brothers equity in the Storm.
Tripp recently sold his remaining share in online betting company, BetEasy to Canadian wagering behemoth the Stars Group and will have time to devote to steering the Storm over the next decade.
Ryan, with interests in hotels, theatre productions, wineries, a Tour de France cycling team, racehorses, as well as founding Jayco, is estimated to be worth $500 million but is time poor and is relieved Tripp will take a more active role.
Campbell, a New Zealand born barrister and sports entrepreneur, has chaired the Storm since inaugural owner News Corporation sold it in May 2013.
He has halved his equity in the club as he pursues other business interests including chairing Brick Lane Brewing Company, a leading independent Victorian brewery.
Jet Couriers have been sponsors of the Storm for 16 years, taking a corporate suite next to the coach's box occupied by Bellamy.
As such, they have been exposed to his passion and commitment - an inspiration for staff and a cause for the buy in by the Ralph brothers.
Bellamy is not expected to take a full-time position as a coach anywhere when his current contract concludes in 2022 and he has a close association with Tripp. Bellamy can be expected to have significant input into future major decisions.
Bellamy's work ethic knows no limits. He recently called the Storm's video man at 10.30pm complaining about 30 seconds of missing vision of a game.
"But it's only half a minute of vision missing," the video man protested.
"That's three play-the-balls," Bellamy fumed. "I could learn alot in that 30 seconds."
John Ribot, the inaugural executive chairman of the Storm, said, "The ownership changes mean we have working class guys who have done well leading a club in a working class game which can get even better."
Wow.
Interesting developments. Probably good for the future with all current owners maintaining a key stakehold.
As for Gerry Ryan, who knew caravans were so lucrative?
Interesting developments. Probably good for the future with all current owners maintaining a key stakehold.
As for Gerry Ryan, who knew caravans were so lucrative?
We must all hang together or, most assuredly, we shall all hang separately
Gerry Ryan also owns the Jayco Southside Flyers who are competing in the best of three game WNBL Grand Final series, which starts at Dandenong Stadium on Sunday afternoon.
https://www.melbournestorm.com.au/news/ ... -chairman/
Bart Campbell to stand down as Storm Chairman
melbournestorm.com.au
Wed 4 Mar 2020
Bart Campbell today announced his departure as Melbourne Storm Chairman after seven years in the role, leading the Club to becoming one of the most successful and respected sporting teams in the country.
Mr Campbell remains the largest shareholder and will continue to serve on the Board, with current director and shareholder Matt Tripp, set to take over as Chairman on 22 May 2020.
Announcing the changes at the launch of Storm’s new Executive Club and 2020 season launch, Mr Campbell said the time was right to step aside.
“It has been an honour to have worked with so many brilliant people and it is the people that make this great club so special. They are truly inspiring” Mr Campbell said.
“I’d like to thank Matt, Gerry, Dave and Danielle for their unwavering support over the last seven years and also the players, coaches and staff who have provided so many special memories along the way for my family and I. It has been both a pleasure and privilege for me, the opportunity of which I shall forever be grateful for.
“I have been lucky to have been involved in something pretty special, but looking forward the role needs someone who can continue to commit the time, enthusiasm and energy needed to drive the club’s ongoing growth and development. I can safely say at this time of handing over, that I have complete confidence in Matt and Dave‘s leadership for the future.
“When we took ownership of the Club, we developed a mission statement to make Storm firstly viable and ultimately a strong NRL club based in Melbourne in perpetuity. I am proud to have played a part in achieving this, but now it is time to focus on the next phase of growth, under new leadership.
“I can happily take a back seat knowing the Club is in a great position on and off the field. Our coach has two years to run, our Football Director has three years and we have a playing list full of state and international representatives who in conjunction with our stable of rising stars, delivered a minor premiership last year and one of the best home and away records in the history of the NRL.
“Off the field, we have just welcomed RedZed to the Storm family as our Major Partner and this week closed out all jersey sponsorship properties, with these companies joining our loyal list of current partners. We are again looking to reach new heights in membership, attendance and revenue, so I pass the baton on with confidence in the position of the Club.”
Mr Campbell has led the Club through its most significant growth period during his seven years in the Chair, having taken ownership of the Club along with Mr Tripp and prominent Victorian businessman, Gerry Ryan in 2013.
Storm has experienced great success on and off the field under Mr Campbell’s leadership, having increased membership, commercial revenues and game day receipts while also enjoying three minor premierships and one NRL premiership in that time. The Club also bid for and secured an expansion Super Netball team, Sunshine Coast Lightning, during Mr Campbell’s time. The success of the Lightning has been a delight, with three grand finals and two premierships in three years of competition.
Television viewership for Storm has increased from 11 million to over 22 million, membership has grown from 14,000 to closing in on 30,000 this year, whilst attendance at matches have increased to an average of over 18,500 at AAMI Park. This has allowed the business to move from substantial losses to profitability and with it, stability.
“There is no doubt Storm would not be in the position it is today had it not been for Bart’s leadership and passion for the Club. He saw the potential to make this Club one of the country’s best and we are now in the fortunate position to build upon that and strive for new heights,” incoming Chairman, Matt Tripp, said.
“This foundation has been further strengthened by the addition of two new shareholders who have shown great faith in what the Club has achieved and what the future holds.” Mr Tripp said.
Mr Campbell said in closing: “Matt’s energy and skill are the perfect combination to take the Club forward. The handover has been long planned, will be seamless and I look forward to doing everything I can to support him.”
Go Storm.