Tigers duo Justin Pascoe and Lee Hagipantelis take over from Storm in major netball ownership switch
A controversial former Wests Tigers duo will take control of Super Netball’s Lightning from the Storm, in a major ownership switch as Melbourne pulls out of the Sunshine Coast.
The Sunshine Coast Lightning will have new owners within days after the Netball Australia board approved a transfer of the club’s Super Netball licence from the Melbourne Storm.
Global Sports Fund Management Group (GSF), the partnership formed by former Wests Tigers powerbrokers Justin Pascoe and Lee Hagipantelis, will take over the licence from October 1 as the Storm Group concentrates its investment in women’s sport on rugby league ahead of eventual NRLW inclusion.
Little will functionally change for the Lightning though, with the acquisition a simple licence transfer and staff and player contracts continuing to be honoured, with Code Sports understanding no jobs have been lost.
Originally part of a consortium with the University of the Sunshine Coast (USC) and Sunshine Coast Council that won a foundation Super Netball licence in 2016, the Storm Group took over full ownership in 2021 and continued to champion the Coast’s only national professional sporting franchise.
Storm Group chief executive Justin Rodski said the decision was not an easy one to make but there had been a focus on supporting the region which had shown such a genuine passion for the Lightning and netball in the region.
“Our focus through this period has always been on our people and the community, ensuring our players and staff are supported, and that the Sunshine Coast would continue to have a team to follow,” Rodski said.
“This move will now allow the club focus on rugby league in our home of Victoria.
“We have a strategic focus to invest in our core business, rugby league, and we are working closely in partnership with the NRL to grow the game, invest in pathways, and strengthen our academies to support the next generation of male and female future Storm stars.”
Talk has been circulating for years about the Storm’s likely decision to exit the Lightning and while it died down in 2023 during the calamitous collapse of Collingwood and eventual entry of the SEN-owned Melbourne Mavericks, noise grew again earlier this year.
Lightning midcourter and Diamonds captain Liz Watson said the future was exciting for the club and it was great to see companies keen to invest in netball.
“The Storm have been incredible for the club since they took full ownership ... so it was bittersweet for them when they came and told us the news that they are stepping away and we’ve got new management,” Watson said.
“But they also think it is the best possible scenario for us, it’s very exciting.
“As athletes, it’s pretty much business as usual, nothing really changes and we’re still Lightning under everything that Lightning (stands for).”
The entry of GSF comes at an interesting juncture for the sport, which was in a perilous financial position just three years ago but has recorded a modest profit for the past three years, while Super Netball is the best-attended women’s professional sports league in the country.
GSF recently acquired Canadian basketball team Ottawa BlackJacks and last year purchased a 25 per cent share in A-League side the Newcastle Jets.
The Lightning won the first two Super Netball titles and have established a firm footprint on the Sunshine Coast, something that won’t change, with GSF focused on building a franchise that delivers excellence on the court, expands pathways for local talent, and creates an unmatched fan experience.
That’s not just cheap talk either. Co-owner Pascoe has a lifelong connection to the region and now lives on the Coast.
“To now have the opportunity to contribute to the growth of sport here and to lead a franchise as special as the Lightning, is something I feel both excited and humbled by,” Pascoe said.
He and Hagipantelis acknowledged the Storm, which they said had done an “outstanding job in establishing this club and setting such strong foundations”.
“Our responsibility now is to build on that legacy. We are committed to ensuring the Lightning continues to shine – not only as a leading netball franchise in Australia, but also as a club that the Sunshine Coast community can proudly call their own.”
Hagipantelis said being able to combine his and Pascoe’s expertise in sport with the passion of the community excited him.
“Local ownership matters – it ensures decisions are made with the Sunshine Coast at heart,” he said.
“We’re committed to investing in women’s sport, building deeper connections with fans and partners, and ensuring the Lightning remains a source of pride for this region for many years to come.”
Netball Australia CEO Stacey West thanked the Storm Group for their partnership and shared her excitement about the new path forward with GSF.
“I can’t wait to see the next phase for the Lightning to be built by Global Sports Fund,” West said.
“Justin Pascoe and his leadership team are highly capable, highly experienced, and locally aligned. The Lightning are going to go from strength to strength.
“I would also like to acknowledge the wonderful partnership Netball Australia and the Storm Group have built over close to a decade. The Lightning would not be the valuable asset they are today without the incredible stewardship of the Storm Group.”
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Originally published as Tigers duo Justin Pascoe and Lee Hagipantelis take over from Storm in major netball ownership switch
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