MT Arena Capital Investment has made a bold move to acquire the Perth Wildcats, with a non-binding indicative offer that has caught the attention of the sports world. The offer, proposed by the investment group associated with cybersecurity entrepreneur Mark Arena, aims to secure a staged 90 per cent acquisition of the National Basketball League powerhouse over the next two years.
The initial 90 per cent stake would come with a $40 million enterprise valuation, with $36 million to be paid in two tranches. The deal includes a put and call option for the remaining 10 per cent, with potential for further increase based on the team’s financial performance.
Mark Arena, a lifelong supporter of the Wildcats, founded Intel 471 in 2014 and has a background as a technical specialist with the Australian Federal Police. His association with MT Arena brings a new dynamic to the potential ownership of the Wildcats.
This development comes after Sports Entertainment Group (SEG) purchased the Wildcats from Jack Bendat in 2021 for $8.5 million. The Floreat-based Bendat Basketball Centre, named in honor of the late owner, serves as the home of the Wildcats and other basketball teams.
With the Wildcats already in the midst of planning for the upcoming season, this acquisition offer adds an intriguing twist to the team’s future. Meanwhile, discussions regarding the potential sale of the Perth Lynx, the Women’s National Basketball League team, are also underway, with potential new owners on the horizon. The basketball landscape in Perth is certainly evolving, and fans will be watching closely to see how these developments unfold.