New Zealand businessmen Eric Watson and Owen Glenn have announced a 50-50 joint venture that includes ownership of the Warriors.
Watson flew from London to join Glenn for the announcement at SkyCity in Auckland this afternoon, just two days before the Warriors open their 2012 NRL season against Manly at Eden Park.
Glenn has reportedly bought former co-owner Mark Hotchin's share of the club.
In January Glenn sold OTS Logistics Group to Man Capital, a London-based private equity group, for "a little less" than $500 million.
In 2002, he gave $7.5 million to the University of Auckland Business School and has also supported the Millennium sporting institute and Hockey New Zealand.
In announcing today that they would be equal partners in a joint venture that would include 100 per cent ownership of the Warriors, Watson and Glenn also made a commitment to invest a multimillion-dollar sum in rugby league.
"The Vodafone Warriors are the biggest single sporting franchise in the country but we don't want to stop here. We want the Vodafone Warriors to become the most successful club in the NRL,'' Watson said.
"Key to that goal is what we do in the development area. It was about five years ago that we announced our strategy to turn the Vodafone Warriors into a development club and we've made a significant investment in this area of the business. We've delivered on that strategy and continue to do so.''
The pair wanted to take the development philosophy to another level they wanted to give more youngsters the chance to play.
Watson, who bought a 75 per cent stake in the club in 2000, said Glenn would bring his business acumen to the venture but also a similar passion for the club, the NRL and for the wider benefits rugby league could bring to people's lives.
In the last 11 years, the Vodafone Warriors have made the NRL grand final twice, won the minor premiership once and been in the finals seven times, including four times in the last five years.
Glenn said the Vodafone Warriors had achieved much in the community through the club.
"I've been hugely encouraged to learn over the past few months of the Vodafone Warriors' commitment to the community through the organisation Shine.
"This organisation's focus on domestic violence and abuse of women and children is very close to my heart. This is an area I'm keen to be more involved in through my association with the Vodafone Warriors,'' he said.
Both owners would be at Eden Park on Sunday for the Warriors' season-opening match against Manly.
- Herald Online
