Acquisition of significant stake in Melbourne United

Canterbury Partners advised Crocmedia, the sports, entertainment and lifestyle content business, on its acquisition of a 25% shareholding in NBL club, Melbourne United.

Melbourne United was formed in 2014 after playing in the NBL as the Melbourne Tigers for 30 years, and has over 5000 members.

Crocmedia, a wholly owned subsidiary of ASX listed Pacific Star Network Limited, is the first new investor in Melbourne United following announcement that NBL’s owner, Larry Kestelman, would sell his majority shareholding in the club.