Brisbane Brocos Limited has recently been through a takeover process as a result of two
competing bids from BB Sports Pty Ltd, a wholly owned subsidiary of Lachlan Murdoch's News
Corporation, and Magic Millions League Pty Ltd, whose majority shareholder is advertising
magnate John Singleton's.
The takeover processed lasted over four months culminating in Magic Millions withdrawing its
offer, leaving News Corpoartion and its associates a 68.87 percent stake in the club.
Nissen expressed his relief that the takeover issue was now resolved: "Takeovers can be
destabilising, especially when they are as hard fought as this one was, and our chief
executive and his team are to be congratulated for the professional way they conducted
themselves throughout the process.
"The completion of the process gives us all the certainty we need to ensure we continue to
give maximum support to Shane and his team and of course to the players.
To read more about the Brisbane Broncos' financial performance in 2001, see the features
section of today's sportbusiness.com
