Hamish Fletcher

Hamish Fletcher is a business reporter for the NZ Herald

Warriors ownership scrap heads to court

Warriors co-owners Eric Watson (left) and Sir Owen Glenn. Photos / NZ Herald
Warriors co-owners Eric Watson (left) and Sir Owen Glenn. Photos / NZ Herald

Sir Owen Glenn is taking court action against Warriors co-owner Eric Watson in an attempt to get back his company's investment in the rugby league club.

Glenn-linked company Kea Investments has filed a statement of claim in the High Court at Auckland against Watson-linked company EJ Group and GWNZ Investments, which is a joint venture company that owns the sports club. It is believed these documents have not yet been served on the respondents.

Glenn's spokesman Ian Fraser confirmed as accurate a report in the National Business Review that Glenn's associated interests are seeking to "recover more than $6 million and transfer back his company's half share in GWNZ to Watson's company".

Glenn in April started a war of words with Watson and senior club officials over the way former coach Matthew Elliott was sacked.

Watson in April confirmed he and Glenn had been in discussions "for some months" about him buying Sir Owen's shareholding.

Glenn said he had offered to buy the Warriors outright from Watson but then offered to sell his shares when Watson's valuation was "grossly excessive."

Glenn bought into the club in April 2012 through Kea Investments, registered in the British Virgin Islands.

Watson's 50 per cent stake can be traced to Cullen Business Trust, of which he is a shareholder.

Warriors chief executive Wayne Scurrah and the NRL have declined to comment at this stage.

- NZ Herald

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