Brisbane Broncos chairman Dennis Watt to stand down

Brisbane Broncos chairman Dennis Watt is to stand down, saying it’s time for new leadership at the listed NRL club.

The Broncos’ Dennis Watt arrives for an NRL meeting in Sydney. Pic: Brett Costello

Brisbane Broncos chairman Dennis Watt has announced he will stand down at the end of this year, saying it’s an appropriate time to refresh the board’s leadership.

A search is underway for a new chair.

Mr Watt has been a non-executive director on the board of the ASX-listed club since 2003 and was appointed chairman in July 2013.

His planned departure comes after what he called a disappointing end to the NRL season, with the Broncos finishing third on the ladder and losing in the preliminary final to eventual premiers the Melbourne Storm.

The Bronocs end their season with a loss to the Storm. Pic: Getty Images

“Whilst winning premierships remains the ultimate goal, our on-field success has continued to help drive the growth of the business, which includes expanded game development, indigenous education and community programs across much of Queensland and northern New South Wales,” Mr Watt said.

He also said completion of the organisation’s new $27.2m headquarters at Red Hill would be a significant milestone in the Broncos’ 30-year history.

Mr Watt said he would be leaving the company (BBL) in a strong financial position, after he helped to spearhead a new NRL club funding deal for 2018 and after the company secured a debt-free funding deal for the new HQ.