Minority shareholder Phil Murphy has confirmed his stake in Broncos is for sale

Broncos part owner Phil Murphy is ready to sell up. Picture: Darren England

Brisbane minority shareholder Phil Murphy is ready to sell his 22 per cent stake in the Broncos. He wants to explain why in his own words. It’s the least Murphy deserves given his loyal and enduring support to the club.

First, some context. The Weekend Australian contacted Murphy on Thursday amid chatter he was ready to offload more than 21 million shares in the club.

Murphy insisted that was not the case. Overnight, he had a rethink.

“Over a long period of time there have been suitors out there who have made approaches to me regarding my Broncos shares,” Murphy said.

“I have, from these past approaches been adamant that I would not sell my shares, although on occasions replying that in life if an offer for anything out there is just too good to refuse, then it would probably be wise to consider it.

“Following your phone calls yesterday I have thought about your questions and I am expressing to you that the reality is that I have been absolutely overwhelmed with my Oxmar Properties development business, particularly the last six months and most certainly I see no early finish to this staggering growth in land sales and also the economy.

“Which means that I am very time poor and have to prioritise. This has led me to consider surrendering my availability and interest in many of the things that I love and cherish, most notably my large interest in the Brisbane Broncos.

“On viewing other good people such as (board member) Tony Joseph needing to walk away, I too admit that if the right offer comes along then my time will also be up.”

Murphy has given leading player manager Jim Banaghan the keys to the castle. Banaghan has become a point of contact for interested parties and has already received at least two expressions of interest.

His plans to sell his shares have the potential to have significant repercussions for the Broncos and their owners News Corp. Should someone attempt to buy the entire stake, they would be forced to launch a takeover bid.

That would leave News Corp with a decision to make, although they have shown no appetite to divest their share.

“I have been approached to look after Phil’s shareholding,” Banaghan told Weekend Read.

“For the first time Phil is allowing someone who loves the club as much as he loves the club to be a part-time owner. He doesn’t need to sell because he has done that well.

“But it is very much available. I say good on him for letting someone else have the fun.”

Before he goes, Murphy wats to clear some things up. Firstly, he insists he never called former coach Anthony Seibold a cancer on the club.

Secondly, he says he has only offered his services to the board and hasn’t actively campaigned to be given a formal position as a director.

Most of all, he wants people to appreciate how much he loves the Broncos

“I have loved the Broncos very much but my current business life is truly very exhausting and change must occur,” Murphy said.

“I have been aware of others who have shown interest in my Broncos shares for some time and have resisted selling, really just because the blessing for me is that I don’t need to.

“But I realise that it is only fair that I would allow someone else to have them and be able to enjoy them, just like I have been able to do.

“Because there are only so many hours in a day, I decided a short time ago to ask Jim Banaghan to oversee any persons who showed interest in my shares and if there was an offer that was considered reasonable and fair I would look at it closely and further to that if there was an offer out there that was just too good to refuse then I would make that decision at the time,” he said.

“To date, he tells me that two parties have registered interest and they are just talking.”

Truth behind Smith and the Bulldogs

Melbourne head of football Frank Ponissi and Canterbury recruitment chief Peter Sharp go way back. So do Ponissi and Bulldogs coach Trent Barrett.

So when Ponissi read last weekend that Barrett had been seen recently at a Melbourne cafe with under-contract Storm hooker Brandon Smith, he reached out to the pair immediately.

Ponissi sent Sharp a photo of the story and was told straight away that it was a meeting by chance. Barrett, who Ponissi has known since he was a kid in Temora, did the same.

He called Ponissi and insisted Smith had simply walked into the cafe where the Bulldogs coach was meeting Storm winger Josh Addo-Carr, who will join Canterbury next season.

The Storm have been steadfast when it comes to Smith. The New Zealand international has another year remaining on his contract with the club and they would only consider allowing him to leave 12 months ahead of schedule if they received a player of similar ilk.

The Bulldogs simply don’t have that talent on their roster. At the same time, the Storm haven’t ruled out signing Smith to an extension.

Smith, it is understood, hasn’t ruled it out either. That would break hearts across the NRL given the clamour to sign the No 9. As for that meeting, Smith said he innocently bumped into Barrett when Weekend Read asked him about how he ended up sitting down at a cafe with the Bulldogs coach and Addo-Carr.

Storm hooker Brandon Smith has another year on his deal at the Storm

It was, he says, completely innocent. Nothing sinister involved.

“I was going to brekkie at a place where a lot of us go to brekkie, which is just down the road from Josh (Addo-Carr),” Smith told Weekend Read.

“We all live in Richmond — we all live within two kilometres of one another. I was going to the local cafe and Joshy was there with him.

“I went and introduced myself. I went up to him and we spoke. He offered me $4 million for three months. So I was like year, I’ll take it.

“No, I introduced myself. I have spoken to him before. He gave me a call a while ago — that was during the off-season when Storm allowed me to speak to other clubs.

“It was an innocent meeting. We didn’t get to details but he seemed like a real good guy.”

Addo-Carr is already on his way to Canterbury at the end of the season. He reminded everyone on Thursday night of the quality he will add to the Bulldogs as he became the first player in more than 70 years to score six tries in a premiership game.

He would love to have Smith come with him and strengthen a Bulldogs side that will also welcome Penrith pair Matt Burton and Brent Naden in 2022.

“Joshy would be getting in everyone’s ear about it,” Smith said. “He wants players to follow him. They are building. They have that Matt Burton who would attract a lot of people to the club.

“They have that player from Penrith — Brent Naden. He is a really good player.”

Smith continues to bat his eyelids at rival clubs but it is all in good fun. The Kiwi rake loves nothing more than having a bit of fun with the media. He also enjoys a free meal, which helps explain why he sat down with Barrett and Addo-Carr. Apparently the Bulldogs coach picked up the bill.

Reynolds to the four

The hottest rumour doing the rounds this week was that Brisbane were ready to tempt 30-year-old South Sydney captain Adam Reynolds with a four-year-deal.

Reynolds would have found that impossible to ignore. The Broncos insist it was the Reynolds camp who raised the prospect of four years, only to be told Brisbane were maxed out at three.

Either way, Cronulla are growing increasingly concerned that they are losing the fight to sign Reynolds as the Broncos step up their bid to sign the Rabbitohs playmaker and skipper.

Souths’ embarrassing loss to Melbourne on Thursday had the pro-Reynolds camp out in force. They were quick to claim that defeat would force Souths to extend their offer beyond one year.

What that conveniently overlooked was that Souths’ reluctance to offer Reynolds a long-term extension is salary cap related. That hasn’t changed.

It also overlooked the fact that Souths had 35 per cent of their salary cap absent against the Storm, including Latrell Mitchell, Cameron Murray and Campbell Graham.

Souths are not budging and Reynolds is moving closer to Brisbane by the minute.

Nervous week for Eels on Moses

Mitchell Moses has just over a week to take up his option with Parramatta. Weekend Read understands the deadline is kick-off in the club’s round 10 game against the Warriors.

He has an offer on the table from Parramatta but at least two clubs are believed to have sounded Moses out about leaving. One of them is believed to be the Broncos. The other is a mystery.

Whoever it is, you can bet they have given Moses food for thought as he decides where he will spend next season. The smart money is on Parramatta, but the Eels face a nervous week regardless.

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