WA's march towards a new era of professional basketball is now complete.
Western Australia’s march towards a new era of professional basketball is now complete.
On Wednesday morning, the Perth Wildcats announced Mark Arena-backed MT Arena Capital Investment had become the club’s majority owner, purchasing a 52.5 per cent stake for $21 million from Sports Entertainment Group, in line with previous announcements.
Multiple put-and-call arrangements remain for Mr Arena, who can increase his stake in the Wildcats to 90 and 100 per cent by June 2026 and June 2028, respectively.
On May 30, Craig Hutchison-backed SEG confirmed it had received a non-binding indicative offer from MT Arena to acquire the Wildcats, which compete in the National Basketball League, via a $40 million enterprise valuation.
Today’s development also follows news in June that husband and wife duo, Christian Hauff and Jodi Millhahn, had become new owners of the Perth Lynx, which participates in the Women’s National Basketball League.
Along with their ownership, SEN Teams – the sports business arm of SEG – agreed to provide some assistance regarding management of the club.
Business News understands the new owners and SEN Teams have already hit the ground running with the Lynx off the court in a bid to maintain sustained success.
Mr Hauff and Ms Millhahn became part owners of the Wildcats last season, after acquiring SEN Teams shares.
SEG bought the Wildcats from the late Jack Bendat in 2021 for $8.5 million.
Mr Arena, a lifelong Wildcats supporter, spoke with the media on Wednesday morning at Wildcats HQ, which is located within the Bendat Basketball Centre, WA’s home of basketball.
Right out of the gate, the new majority owner made it clear he wants Western Australians to join him on his new journey.
“I’m here to have maximum community impact and win championships,” Mr Arena said.
“I want to build upon the legacy of strong management at this club, and to add my own expertise to strengthen the Wildcats’ commercial potential and community connection.”
Mr Arena added he would be taking a “WA-first” approach across all elements of the Wildcats.
“I want the club to be supported by the best WA companies and companies run by the most successful WA businesspeople," he said.
“I want to deliver strong returns and return on investment to our corporate supporters and I want our members to feel even closer to the team.
“And I’m confident we can enhance that both digitally and at in-person events.”
Mr Arena also said his decision to purchase the team wasn’t based on a desire for personal financial gain.
“I’m not doing this to make money,” he said.
“I’m doing this for the potential for growth within the Wildcats and basketball in Australia.”
The club will also form a new board, with several familiar faces.
“Hutchy [Craig Hutchison] will be a member of that, along with Jodie Simm, who is the chief operating officer at SEN," Mr Arena said.
“The independent chairman is David Buckingham, who is the former chief executive officer of iiNet, chairman of Pentanet and some other companies.
“He’s a Western Australian and lives close to here as well.
“I’ll ultimately have a controlling share, but ultimately the board will drive the strategic direction of the club.”
