Crocmedia buys 25% stake in Melbourne United NBL team
Australia’s largest independent sports media syndicator Crocmedia has acquired a 25% ownership stake in NBL basketball side Melbourne United.
United are the 2018 NBL champions and the deal will see 1116 SEN broadcast all of the club’s home, away and finals games live, becoming the parochial ‘radio’ home of the club.
Pacific Star Network managing director and CEO of Crocmedia Craig Hutchison said the acquisition is an exciting opportunity.
“With incredibly strong participation numbers, attendances, broadcast audiences and interest in the game, there’s never been a better time to get involved,” Hutchison said.
“In just four years since it entered the NBL, Melbourne United has risen to the top of Australian basketball and is on its way to becoming one of the leading sports and entertainment franchises in the country.
“As a specialist sports media company, we are excited about generating new revenue opportunities through this unique partnership,” Hutchison added.
“It presents us an opportunity to offer our brand partners a unique end-to-end solution in the growing code; from community and grassroots, to the incredibly exciting match day environment and all the broadcast and content opportunities that sit around it.”
Crocmedia has bought its share from NBL owner and executive owner Larry Kestelman, who will retain 25% himself.
“After helping to build the club to what it is today, the time has come to hand over to the next generation of owners and I’m delighted that Crocmedia has come on board to help drive it forward,” Kestelman said.
“Crocmedia is a dynamic, innovative and growing media company that will open up future opportunities for Melbourne United and the National Basketball League as the game continues to grow.
Melbourne United CEO Vince Crivelli added; “We’ve come off our most successful season with an NBL title and sold out games at Hisense Arena and with Crocmedia on board, we now want to lead the club through its next exciting growth phase and build a club we can all be proud of.”