NBL owner Larry Kestelman has reached out to cash-strapped Netball Australia – but stopped short of confirming a bid for Super Netball

Larry Kestelman has offered to assist Netball Australia after his stunning transformation of the NBL, writes LINDA PEARCE.

Larry Kestelman has offered his assistance to Netball Australia but has stopped short at suggestions he is looking to purchase the organisation. Picture: Zak Simmonds

NBL owner Larry Kestelman has offered assistance to cash-strapped Netball Australia, while describing as “an overreach’’ the suggestion he is among the parties interested in purchasing Super Netball.

A private equity consortium headed by Mental Health Australia chair Matt Berriman and including wealthy businessman James Rushton, former ABC managing director Michelle Guthrie and ex-Diamonds captain Liz Ellis, last month made a $6.5 million bid to buy the national league from the governing body.

Kestelman, who bought a majority stake in the NBL for $7 million in 2015 and has drastically turned around its fortunes, confirmed to CODE Sports on Friday he had contacted Netball Australia CEO Kelly Ryan before her recent trip to the Commonwealth Games in Birmingham, where the Diamonds won gold.

“What we have done is we’ve reached out to see how we can help,’’ Kestelman said. “I think saying that I want to buy it is an overreach.’’

Kestelman (L) is open to any talks with Netball Australia. Picture: Steve Bell/Getty Images

As to what form that help might take, Kestelman said: “Well, we don’t know. We run quite a successful competition. We run not a dissimilar type of a business model to theirs, so we want to see how we can help.

“So it was just simply to catch up and have a conversation. I think they were happy to catch up, so I think that will happen in the future.

“All it was was one sport reaching out to another to see how we can assist. We haven’t had that conversation, so that’s probably all I’m prepared to say. Everything else would be speculation.’’

Kestelman, who made his fortune in telecommunications, and last year had an estimated net worth of $785 million, also refused to be drawn on whether adding a second national sports league to his portfolio was something he may consider in the future.

“I know what you’d like me to say but I won’t say it. All I will say is I’m very happy to catch up with them and see how we can help.’’

Netball Australia has been struggling financially over the past two years. Picture: James Worsfold/Getty Images

While denying reports it is on the verge of financial ruin, Netball Australia has admitted to losing $7.2 million in the past two years, with bank loans of $4.2 million originally due at the end of 2023 having been extended until 2025.

Berriman reportedly met with NA chair Marina Go last week. The consortium has offered to eliminate NA’s debt and then invest in the sport via a $4.5 million upfront payment plus two annual $1 million payments thereafter to benefit grassroots netball and the Diamonds.

The bid has the unanimous backing of the Australian Netball Players’ Association board.

Netball Australia responded to media reports of the offer by calling an emergency board meeting on July 8, later releasing a statement indicating it was open to considering a full or partial sale of the eight-team competition, which replaced the trans-Tasman league in 2017.

On Friday, it reiterated that it was conducting a review of Super Netball “in line with the State of the Game Review, as part of normal business practice in maintaining the world’s best netball competition’’ and flagged a formal valuation of the league that would inform any potential sale decisions.

“We appreciate the interest we have had from multiple parties who are looking to align with our sport and our league. This continues to show the strength and power of netball in Australia.’’

Originally published as NBL owner Larry Kestelman has reached out to cash-strapped Netball Australia – but stopped short of confirming a bid for Super Netball