Global private capital firm EQT is to become the majority owner of National Rugby League team Melbourne Storm.
No details were provided on the exact proportion of the stake or the size of the investment but it is likely to value the business at $150 − $200 million.
This will be Stockholm-based EQT’s first foray into professional sports team ownership although it said it has experience in sport investment through its ownership of Florida business IMG Academy. IMG Academy claims to be the world’s leading sports education brand. The company provides on campus and online training and development for student athletes.
EQT will invest in Melbourne Storm through its Mid-Market Opportunities Strategy.
The deal is being led by managing director Alexander Hansen, the firm’s sports and education investment lead for the Asia Pacific region.
Announcing the deal on 19 August, Melbourne Storm said it had decided to accept EQT as its main strategic partner after a thorough global process. The deal will complete a capital-raising process run by investment bank Jeffries. Earlier this year, the club decided to seek new investment primarily to upgrade its headquarters and training facilities.
Melbourne Storm said: “EQT is committed to investing in the club’s key strategic priorities with a focus on strengthening the football pathways and player pathways, enhancing the matchday and fan experience for members and supporters, attracting new commercial sponsorships and global partnerships, and continuing the Storm’s important role in the community and growing the game of Rugby League across Victoria.”
Subject to approval from the Australian Rugby League Commission, EQT representatives will join those of the current ownership group on the Melbourne Storm board.
Current owners of the club are: Betr executive chairman, Matthew Tripp; Jayco Australia caravans founder Gerry Ryan; owner of sports marketing agency Left Field Live, Bart Campbell; Tom Carroll and Brett Ralph.
Matt Tripp will retain his role as board chairman while the club’s senior management team of chief executive, Justin Rodski; head coach, Craig Bellamy; and director of football, Frank Ponissi will also be retained.
Tripp said: “The game of Rugby League is as healthy as it has ever been, and we want our club to go from strength to strength alongside the code in the years to come. A partner like EQT well and truly puts us in the best position to do that.”
EQT managing director Alexander Hansen, the firm’s sports and education investment lead in Asia Pacific, said: “Melbourne Storm is an exceptional Club, with a proud football culture, strong leadership and a deep connection with its supporters and the community in Victoria. We look forward to working with Matt and the board and the club’s leadership to build on those strengths, bringing additional resources and experience to support the people and systems that have made Storm successful.”
Melbourne Storm generated revenue of $40 million in the year to October 31, 2025, according to its latest full-year statutory accounts.
Arnold Bloch Leibler is acting as legal adviser to Melbourne Storm on the EQT transaction.
Image: Melbourne Storm players after winning the NRL Grand Final in 2020.