The Tasmania JackJumpers will soon have new a new owner, with Brisbane-based Altor Capital to acquire the NBL franchise.
The deal was announced by founding owner Larry Kestelman at the team’s MVP awards ceremony on Saturday night.
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It will see Altor initially take a controlling 51% stake this year before assuming full ownership in 2027.
The announcement follows months of negotiations and significant international interest, with 30 investors worldwide reportedly eager to purchase the team.
Kestelman, who maintains substantial ownership interests in the NBL, last year said he was in “no rush” to sell the club, but that his intent was “not to be the long-term owner”.
He is expected to speak publicly on the sale on Sunday.
