Global investment organisation EQT has become the latest financial backer of the Melbourne Storm, purchasing a majority share in the club.
The move comes after a lengthy and thorough search to identify the correct partner to invest in the Storm and lead them into the future.
As with all major acquisitions, a new ownership and leadership structures will follow.
However, multiple positions will remain unaffected including Chairman Matt Tripp, CEO Justin Rodski, Head Coach Craig Bellamy and Director of Football Frank Ponissi.
Speaking about the new shareholder, Tripp was delighted with the decision to go with EQT.
“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 told the club'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.”
Founded in Sweden in 1994, EQT brings a wealth of experience working with sports management teams, owning the IMG Academy, based in Florida, which specialises in the development of athletes from grades 6-12.
The investment company is also a global sports partner of the ATP and Great Britain's SailGP team.
Also speaking to the Storm's website, Alexander Hansen, Managing Director and Sports and Education Investment Lead at EQT in Asia Pacific, spoke about his excitement over the deal.
“Melbourne Storm is an exceptional Club, with a proud football culture, strong leadership and a deep connection with its supporters and the community in Victoria," Hansen stated.
"We look forward to working with Matt, the Board and the Club's leadership to build on those strengths, bringing additional resources and experience to support the people and systems that have made Storm successful.”
