Bullets’ owners reload

The NBL and Larry Kestelman have sold their remaining shares in the Brisbane Bullets.

The news comes off the back of news Kestelman will be divesting from Melbourne United and the Tasmania JackJumpers.

Local investor and experienced business leader Ben Haan has acquired a substantial ownership stake in the Brisbane Bullets, and Chairman Jason Levien has increased his stake.

Levien, a lead investor in multiple sports properties across the globe, is experienced in leading real estate, hospitality, media, and technology-focused businesses.

He has spearheaded award-winning public private partnership stadium and arena development projects over the past decade.

He previously served on the National Basketball Association’s Board of Governors and currently serves on Major League Soccer’s Board of Governors. He has been in the majority ownership of the Bullets since 2019.

Haan, the Founder and Chief Investment Officer of Tectonic Investment Management Pty Ltd, has expertise in high-growth investments and commercial strategy.

Previously, Haan was responsible for the origination and execution of more than USD 1.5 billion of direct private equity investment at Swiss-headquartered global private markets firm Partners Group.

“Ben is a terrific addition to our ownership group,” Levien said.

“His commercial expertise and passion for the club have already made a significant impact. I look forward to Ben contributing to build a great future for the Bullets.”

Haan said he will work to help create a strong club the fans can be proud of.

“I have very much enjoyed being part of the Bullets ownership group, attending each home game and working on building a strong financial foundation,” Haan said.

“The ownership group wants to engage more closely with our fans -as well as grow our overall member base, bringing a formidable ‘Blue Army’ of Bullets supporters to every home game.”

Brisbane Bullets CEO Malcolm Watts welcomed the increased investment, highlighting the value of having an onshore owner actively involved in the club’s growth.

“Having Ben as a locally based owner is incredibly beneficial, and I’m excited to continue working with him to drive the Bullets forward,” Watts said.