Australian-based businessman and investor Charles Gibbon has taken a 20% stake in the club.
Gibbon entered the Forbes Billionaires list for the first time last year with an estimated net worth of $US1.1 billion ($NZ1.9b), having made his fortune as an investor in Australian software firm Wise Tech.
The 75-year-old money man worked in the UK and Australia in investment banking, served as the chief executive of Russell Private Equity and Risk Averse Money Managers Pty Ltd, and was a founding partner of Shearwater Growth Equity.
Gibbon lives in Bellawongarah, south of Sydney, but he has some reasonable links to the South.
He was born and raised in Southland, attended King’s High School, earned a bachelor of science in mathematics from the University of Otago — along with a master of commerce from Canterbury — and spends time at a holiday home in Arrowtown.
Gibbon said his decision to invest in the Highlanders reflected his long-standing passion for the region and his belief in the potential of the team, and he aimed to support the club’s ongoing efforts to remain competitive as a small-market player in Super Rugby.
"The Highlanders are more than just a rugby team, they’re a symbol of their community’s spirit and resilience," Gibbon said in a statement.
"I believe in the potential of this region, and I’m excited to play a role in helping the Highlanders continue to grow and succeed.
"We have an opportunity to make a lasting impact on the club and the community, and I’m eager to be part of that journey."
Highlanders chairman Peter Kean welcomed Gibbon’s addition to the shareholder group.
"We are thrilled to have someone with Charles’s business acumen and connection to Otago-Southland join the Highlanders ownership group," Kean said.
"His long-standing ties to our region make him an ideal partner for our club. We’re confident that his insights and commitment will help take the Highlanders to new heights, both in terms of on-field performance and broader commercial success."
Kean and Shane Drummond, both of whom held 33% stakes in the Highlanders, have sold down some shares to accommodate Gibbon.
The other shareholders are a syndicate led by former All Black and media personality Marc Ellis (11%), a syndicate led by former Dunedin businessman Chris Gallaher, and the Southland, North Otago and Otago provincial unions (13%).
