Melbourne United

NBL Shake-Up: Melbourne United Stake Sold for $4 Million

Find out how NBL boss Larry Kestelman made a game-changing move by selling a 10% stake in Melbourne United for $4m, valuing the club at $40m!

In a bold move that has sent shockwaves through the basketball community, National Basketball League (NBL) owner Larry Kestelman has made a significant sale. Kestelman has parted ways with a 10% stake in Melbourne United, one of the league's most prominent teams, for a whopping $4 million. With this transaction, the club's overall value skyrockets to an impressive $40 million, solidifying its status as a major player in the Australian basketball scene.

This strategic decision by Kestelman has not only reshaped Melbourne United's ownership structure but has also highlighted the burgeoning financial opportunities in Australian basketball. As the NBL continues to gain momentum and attract investment, Kestelman's sell-off demonstrates the potential for growth and expansion within the league. Fans and analysts alike are abuzz with speculation about the future trajectory of Melbourne United and how this move will impact the team's performance and overall standing in the league.

The sale of the stake in Melbourne United marks a significant milestone for both Kestelman and the NBL, signalling a new era of financial development and investment in Australian basketball. With this fresh injection of funds and interest, Melbourne United is poised for exciting developments and potential advancements in the upcoming seasons. As the club gears up for this new chapter, all eyes are on the court to see how this shake-up will influence the team's gameplay and competitive edge on the court.