Investors sought at Breakers
Paul and Liz Blackwell are finally ready to sell a chunk of New Zealand’s most successful sporting franchise because they believe diversifying ownership is crucial to the sustainability of the Breakers.
The Blackwells, sole owners of the NZ Breakers for the last 11 years, have announced that they are going to the market in search of the right people wanting to take an ownership interest in the club that has established unprecedented Kiwi success in an Australian national league.
The Breakers have won four of the last six championships, have played in five of the last half-dozen grand finals and along with bitter rivals the Perth Wildcats have become the beacons for on and offcourt success in the Aussie league.
The Blackwells shared the news with staff, members and sponsors at Friday night’s awards dinner and were keen to explain the rationale for their decision. They emphasised they are not bailing out on the club, nor is it an indication that there are any financial issues at hand.
In essence, the North Shore supermarket-owning, churchgoing couple who have structured this club on their own vision for success have reached a stage where they need some help and believe extending the ownership is the logical next step.
Asked if it was an important next move for the club, which is now being guided by former playing legends in new general manager Dillon Boucher and new head coach Paul Henare, Henare thought a moment before replying: ‘‘It’s an intent, it’s not urgent, and we’ll take the time necessary to do it right. We have a philosophy for our club of no dickheads, and that’s got to apply at all levels.
‘‘It’s about the right people coming on board and we will work through that. It’s only important if it was felt this is Liz and Paul walking away. But that’s not the case. It’s about us looking to involve more, to share in it and grow this so it becomes sustainable.’’
The Blackwells are adamant their search for investors is as much about adding ‘‘commercial nous’’ as it is about transitioning towards a day when they will one day step away from a club they say is edging closer towards a point where it will break-even on the balance sheet.
‘‘We’ve got four words we’ve focused on our whole time here − it’s about professionalism, it’s around being successful, being relevant to the community, and then being sustainable,’’ said Paul Blackwell.
‘‘The first three we’ve really worked on, but the last one we probably need some help on.’’