New Zealand Breakers set for new ownership as Kiwi group take over

The NZ Breakers missed the playoffs this season. Photo / Photosport

The New Zealand Breakers will enter their next NBL campaign under new ownership.

Seven years after taking over, the current ownership group – fronted by former NBA player Matt Walsh and including former NBA all-stars Shawn Marion and Victor Oladipo – have sold the team, the Herald understands.

Neither the club nor Walsh would comment on the sale when contacted by the Herald, but it is believed that local ownership will be taking over.

The sale brings to an end an eventful era at the club after their sale to Walsh’s group in 2018, during which they had to navigate the Covid-19 period, came within one game of hanging another banner and consistently featured in the NBA crossover games.

But it was a stretch that also saw the team struggle at times, with just two trips to the postseason in seven seasons.

That stretch was also rife with suggestions that the American ownership group was looking to move the club on. The most recent of those suggestions came in early 2024.

Changes in club ownership must be approved by the NBL, who had no comment on the situation when contacted by the Herald.

The New Zealand companies register showed a company named NZ Breakers Club Limited was established on February 28 and formed by Wellington brothers Leon and Stephen Grice.

The two are listed as directors and 50/50 shareholders of the company.

The Breakers become the second NBL club to be sold this year.

The Tasmania Jackjumpers, who joined the league in 2021, were sold by league owner Larry Kestelman and the NBL to Brisbane-based private equity firm Altor Capital.

ESPN reported the Jackjumpers were sold for a valuation of A$35 million ($38.2m).

In announcing that sale, the club confirmed that, under the terms of the ownership transition agreement, Kestelman would remain involved for the next two years to ensure a smooth handover.

Christopher Reive joined the Herald sports team in 2017, bringing the same versatility to his coverage as he does to his sports viewing habits.