NRL’s Bulldogs in $80m shopping spree
The Canterbury-Bankstown Bulldogs, through their famous Canterbury Leagues Club, have made a bold move by acquiring a shopping centre in the heart of Newcastle Knights territory. This ambitious $49.75 million deal sees the club adding Rutherford Marketplace, located in the northwest of Maitland, to their growing property portfolio. The acquisition, set to be finalized later this month, includes major tenants Woolworths and BWS, along with 20 other retailers.
The purchase was executed through Rutherford Property Holdings, a special purpose vehicle linked to the Leagues Club, which already supports the Bulldogs with $6 million annually. The shopping centre’s acquisition reflects a broader trend among NRL clubs, including the Bulldogs, to diversify revenue streams beyond traditional poker machine income.
The Canterbury Leagues Club has long been building its investment portfolio, boasting over $16 million in assets across Lakemba, Belmore, and Liverpool. This latest purchase further solidifies their expansion into commercial properties outside their traditional territory.
This move follows a similar trajectory seen across the NRL landscape. Notably, the Australian Rugby League Commission purchased the Mercure Kawana Waters hotel on the Sunshine Coast earlier this year as part of its strategy to develop a $250 million asset base. The Roosters, led by billionaire chairman Nick Politis, also hold an impressive $150 million in group assets, including several clubs and properties across Sydney.
The Bulldogs’ on-field success is now being mirrored off-field as they join the ranks of NRL clubs, such as the Roosters and Dolphins, investing heavily in property assets to secure their financial future. The Dolphins, backed by the Redcliffe Leagues Club, now boast an asset base worth over $100 million.
This bold expansion into Knights territory highlights the growing business acumen of NRL clubs as they seek to secure their long-term financial stability through strategic investments.
