NZ Warriors ownership saga heading for court

Last updated 15:07 20/06/2014
Owen Glenn
Getty Images
HEADING FOR COURT: Sir Owen Glenn wants to recoup the money his company invested in the Warriors.

Relevant offers

League

Recall puts grin back on Kenny-Dowall's face Kangaroos will show respect for the haka Experience needed to beat Kiwis, says Smith Frank Pritchard brings key nous to Samoans Cronulla's Gallen apologises for offensive tweet Superstar tag not the one for Shaun Johnson Mark Graham looking to inspire upstart Kiwis NZ utility back in better place than name-sake Brawling Samoan players fined $10k each South Sydney in the money as Packer joins

The Warriors' ownership battle looks set to head to court with millionaire Sir Owen Glenn seeking to get back his company's investment, the National Business Review reports.

Glenn's company Kea Investments is understood to have filed a statement of claim in the High Court at Auckland against EJ Group, a company linked to Eric Watson and GWNZ Investments, a joint venture company that owns the Warriors.

It is believed these documents have not yet been served.

The NBR reported Glenn's associated interests are seeking to "recover more than $6 million and transfer back his company's half share in GWNZ to Watson's company".

Glenn publicly lambasted Watson in April over the club's handling then head coach Matt Elliott's sacking. Relations have disintegrated since then.

A few weeks after the Elliott debacle Glenn asked for an independent review of the club and said he wanted out because he didn't have "any confidence or trust in the management of the company".

Glenn told Radio New Zealand his relationship with Watson had "deteriorated to the point of confrontation" and claimed "Mr Watson wants total control ... dictatorship".

Glenn bought his half of the Warriors for just over $6 million in 2012 through Kea Investments but in April this year he said finding a price to exit the deal was proving difficult.

"We've been talking about this for 12 months . . . that it hasn't been working," Glenn said of his partnership with Watson at the club.

Glenn said Watson put the value of the Warriors at $30m yet Watson was only prepared to pay him $1m for his half share now.

"If he really thinks the Warriors are valued at $2m, what's he really saying?" Glenn said.

Ad Feedback

- Stuff

Special offers
Opinion poll

Will NRL superstar Jarryd Hayne be successful in chasing his NFL dream in America?

Yes

No

Too early to say

Vote Result

Related story: (See story)

Featured Promotions

Sponsored Content