A-League: Melbourne Victory valued at $40m

Melbourne Victory are now the second-most valuable privately held sports club after a share transaction valued it at $40m.

Chairman Anthony Di Pietro with Victory’s star signing Keisuke Honda

A-League club Melbourne Victory are now the second-most valuable privately held sports club in Australia after a recent share transaction valued it at $40 million.

The deal puts Victory behind only the ASX-listed Brisbane Broncos, which has market capitalisation of about $47m and is 67 per cent owned by News Corporation, and ahead of all other privately owned NRL clubs, ­National Basketball League sides and the other nine A-League clubs.

Victory’s new valuation comes as the owners of NRL runners-up Melbourne Storm prepare to ­potentially sell some of their shares to club fans and members in what may value it at more than $30m.

It is also higher than WIN ­Corporation’s takeover of the ­Illawarra half of the ­St George Illawarra joint venture this year, which valued that NRL club at $20m, a similar figure to Manly, based on some share sales.

South Sydney are worth about $25m, based on James Packer buying 37.5 per cent in 2014.

Earlier this year, A-League side Adelaide United was sold to a group of overseas investors for $12m, while NBL team Melbourne United are worth close to $10m after NBL owner Larry Kestelman sold down his stake in the team in the off-season.

Victory chairman Anthony Di Pietro revealed at the club’s season launch yesterday that the owners of one of the club’s big sponsors, Sam and Maria Cuteri of poultry company La Ionica, had recently invested in a new parcel of shares in the club as part of a capital ­raising.

It is understood the amount of their investment values the entire club at $40m, which is almost double the value of a previous shareholding transaction in 2014 that resulted in several large parcels of Victory shares changing hands to value the club at $23m-$25m.

“The Cuteri family have been strong supporters of Melbourne Victory since day one and this investment both strengthens our connection and strengthens our club,” Pietro told the Victory in Business function, which was attended by about 1300 corporate supporters.

Victory are majority owned by Di Pietro, the chief executive of Premier Fruits Group and Mario Biasin, the owner of home builder Metricon, though the club also has dozens of small shareholders.

Metricon was also announced as the Victory’s major shirt sponsor for the 2018-19 season, with ­Biasin having to increase his ­investment in the club in lieu of ­another large sponsor being found despite the addition of Japanese marquee player Keisuke Honda and other recruits.

Di Pietro told yesterday’s function the defending A-League premiers are pushing towards achieving their goal of having 30,000 members for the upcoming season and were on target to complete a $21m academy, training and W-League facility in Melbourne’s west by 2020.

“It is the biggest investment in the club’s history,” said Di Pietro. “This is a milestone moment for Victory and football development.

“We are extremely grateful for the support of the Andrews state government, which shares our ­vision and subsequently has provided $10m in funding assistance.”