EQT takes majority stake in Melbourne Storm
Swedish private equity firm EQT has acquired a majority interest in Australian rugby league club Melbourne Storm, marking its first direct investment in a professional sports team according to a report by the Financial Times.
Swedish private equity firm EQT has acquired a majority stake in Australian rugby league club Melbourne Storm, according to the Financial Times. The investment values the NRL club at approximately AUD150m ($106m). This marks EQT's first direct investment in a professional sports team. The transaction expands EQT's sports-related portfolio, which includes its $1.25bn acquisition of IMG Academy in 2023.
The investment also comes at a time when Australian sport is benefiting from a surge in media rights values, with the NRL recently securing a record AUD5.3bn, seven-year broadcast package. Melbourne Storm, founded in 1998, is the only NRL club based in Victoria and has become one of the strongest clubs in rugby league.
Written by urgent.news from Private Equity Wire's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
