Crocmedia boss Craig Hutchison buys stake of NBL champion Melbourne United

MEDIA magnate Craig Hutchison has added sports franchise owner to his resume, buying into a basketball team.

Crocmedia boss Craig Hutchison buys 25 per cent share of Melbourne United. Picture: Jay Town

MEDIA magnate Craig Hutchison has acquired a stake in NBL champions Melbourne United.

The Crocmedia chief executive will own 25 per cent of the NBL heavyweight, alongside majority shareholder Larry Kestelman, who also holds a quarter of the franchise.

“After helping to build the club to what it is today, the time has come to hand over to the next generation of owners and I’m delighted that Crocmedia has come on board to help drive it forward,” Kestelman said in a statement.

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Melbourne United will play the Philadelphia 76ers featuring Australian superstar and NBA Rookie of the Year Ben Simmons in the US on September 28.

Melbourne United players and coaches celebrate the NBL Grand Final win. Picture: Getty

Hutchison said strong interest in basketball, attendances and broadcast audiences was the catalyst for Crocmedia’s ownership bid.

“In just four years since it entered the NBL, Melbourne United has risen to the top of Australian basketball and is on its way to becoming one of the leading sports and entertainment franchises in the country,” Hutchison said.

Under the deal, 1116 SEN will broadcast all United games including any finals live.

It comes after the Herald Sun revealed last week that the NBL has sold a ninth licence for the domestic league, starting from 2019-20.

Melbourne is the preferred home for the new NBL team, with Gold Coast, Tasmania and Perth also in the running.

The location hinges on the ninth franchise having regular access to “world class” match day and training facilities.

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