SWEDISH private equity firm EQT is the new majority shareholder in the Melbourne Storm.
The reported A$150 million deal is still subject to approval from the Australian Rugby League Commission involves a percentage owernership that has not been revealed.
Chairman Matthew Tripp and chief executive Justin Rodski will remain on the board.
Reports the Storm, founded in 1998 from the ruins of the Super League War, were seeking a new majority investor date back to July.
EQT is the world’s largest private markets firm outside the US.
“We conducted a thorough process to find the right partner to help us to continue driving the club forward and are pleased to be able to do so with EQT joining our ownership group,” Tripp said in a statement posted on the Storm’s website.
“EQT brings with it some incredible credentials and the partnership will only be of benefit to our club – we are proudly ambitious and have hopes for continued growth to keep Melbourne Storm at the top of Australian sport long into the future.
“The game of rugby league is as healthy as it has ever been and we want our club to go from strength to strength alongside the code in the years to come.
“A partner like EQT well and truly puts us in the best position to do that.”
