Breakers looking for new investors

Blackwells decide to step away from four-times Aussie NBL champs by selling or reducing their shareholding

The Breakers basketball franchise owners Paul and Liz Blackwell are looking for investors to take ownership of the four-time champions so they can either step away, or reduce their shareholding.

They bought the Breakers in 2005, turning the franchise into one of the standard bearers of the competition.

“We have thought about this long and hard and spoken with those close to us and the club,” Paul Blackwell said. “We believe the timing is perfect for us to make this decision and, more importantly, for a new majority owner to lead the club into what promises to be an exciting new phase as the Australian NBL continues to grow and develop. This means selling our controlling stake in the club to the right investors who can bring capital and renewed vigour to ensure the Breakers’ ongoing success.”

Blackwell cited recent games played between Melbourne, Brisbane and Sydney against American NBA clubs, and a strong increase in attendance and television audiences through the opening weeks of the NBL season.

Under the Blackwells’ stewardship, the Breakers have operated under a famous “no dickheads” policy which, alongside family barbecues and game-day home baking, have added to the club’s folklore.

General manager Dillon Boucher says the decision is about growing the club’s legacy.

“They have built this club to where it is culturally with their community spirit, but they now want someone to come in and focus more on the commercial side more to continue growing the club’s sustainability.

“The generosity of their time and energy has been incredible. Nothing symbolises that more than their approach to the imports. They’d meet them at the airport at 5.30am upon arrival, or deliver their ‘orphan’s Christmas’ to make sure they felt welcome in a home away from home.”

The Blackwells say it will be business as usual as new owners are found. “It is imperative any new investors are given the chance to be in control at the end of this season, not the start of next season. Nothing changes in day to day operations or our quest for another championship.”