Twiggy Forrest has been looking to invest in a whole range of Australian companies... and now he's reportedly looking to buy a slice of Rugby Australia.
👉 Background: Andrew Twiggy Forrest and his wife started Fortescue Metals back in 2003, which has a market cap of $53 billion.
👉 What happened: More recently, he’s been looking to invest in a whole range of Australian companies. He already owns RM WIlliams, a large chunk of Bega Cheese and BWX. He's also been sniffing around David Jones.
👉 What else: And now, Twiggy's investment arm, Tattarang, is reportedly looking to buy a slice of Rugby Australia (the governing body of rugby union in Australia). And it’s just another example of professional investors embracing major sporting codes.
💡 In recent years, private equity firms and professional investors have been creeping their way into sport ownership - making sport another asset class for investment.
💡Private investors love owning sporting teams and sporting leagues because they consistently attract a strong, worldwide audience.
💡 But with more private investors building ownership stakes across sporting bodies, it does run the risk of reshaping the clubs and sport. After all, investors are looking for a financial return on their investments.
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