Crocmedia has acquired a large stake in reigning NBL champions Melbourne United, in a first for Australian basketball.
Craig Hutchison’s business will acquire 25 per cent of the team and NBL owner Larry Kestelman said this will help carry the momentum of the competition forward.
“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.
“There is huge momentum behind the game and this is a great endorsement of the strength and direction of the NBL as a sports and entertainment business.
“We believe we now have the best basketball league and entertainment product in the world outside of the NBA. Five of our NBL teams will play seven games in the NBA preseason and Australian NBA star Andrew Bogut will return to play the NBL next season,” Kestelman said.
As part of the deal, Melbourne’s Home of Sport, 1116 SEN will broadcast all Melbourne United home, away and finals games live and the station will become the parochial ‘radio’ home of the club.
Pacific Star Network Managing Director and Crocmedia’s Chief Executive Officer Craig Hutchison said he was excited by this 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.”
Watch the announcement below.