Sir Owen Glenn announces trust
Sir Owen Glenn has today made an announcement about his ownership stake in the Vodafone Warriors.
Here is the official release:
Sir Owen Glenn is to to transfer his 50% stake in the NZ Warriors rugby league franchise to a Trust to be named the Sir Owen Glenn Warriors Trust to further the game of rugby league at grassroots and secondary school levels.
“I will honour the commitment I made earlier in the year to transfer my stake in the NZ Warriors for the benefit of the rugby league community and the development of rugby league at the grassroots level by enhancing opportunities for kids to participate in primary and secondary schools rugby league for their own growth and development. This will hopefully assist with the growth of the game” he said.
Sir Owen said: “I am pleased to announce that Bill Birnie, Hon. John Banks and Mark Rice will be appointed as board members of the Trustee of the Trust. I am also delighted to announce that Sir Ralph Norris will be the Patron of the Trust.”
Sir Owen also said: “Bill is ideally suited to Chair the Trustee board given his role as a board member of Sport NZ, High Performance Sport NZ and the Warriors and will work with the national sporting body, the NZRL, to foster the growth of the game in New Zealand.
"As a previous Minister of Sport, Mayor of Auckland and passionate rugby league supporter, the Hon. John Banks is also ideally suited to be a board member of the Trustee. With John’s background as a senior player and past Presidents of the Mt Albert Rugby League Club and Northland Rugby League, John will make a major contribution to the Trust.
"Mark Rice is the Principal of St Paul’s College in Auckland, a school which has a positive rugby league culture and encourages participation in the sport. Mark is also a Trustee of Sport Auckland, a past Convenor of the NZ Secondary Schools Rugby League Council and recent past board member of the Auckland Secondary School Heads Association College Sport board. Mark’s extensive experience in education and sport makes him an ideal board member.”
Phil Holden, CEO of the NZRL, confirmed that resources for the administration of the Trust would be provided by the NZRL.
Mr Holden said: “I am delighted with Sir Owen’s decision to establish the Sir Owen Glenn Warriors Trust which in time, I am sure, will assist the NZRL in growing the game of league in New Zealand.”
Sir Owen also announced that he will settle an additional $100,000 on the Trust and lead a process with the Trustee board members, and the NZRL to produce a five year blueprint to advance the sport of rugby league in New Zealand.
He commented further that should any dividends or proceeds received by the Trust if in the future the Warriors franchise is sold, then these proceeds could be used by the Trustees to assist with the activities of the Trust. He also stated that under the new management of CEO Jim Doyle, and a strong performance from the Warriors on the field he believed that the Warriors should be in a position to pay dividends in the near term.
Sir Owen also noted that because of his decision to settle his 50% ownership of the Warriors on the Trust there should be no reason for the existing proceedings between him and Warriors co-owner Mr Watson which are currently before the New Zealand Courts to continue.