32 mins ago
Manly to seek other bidders before
selling off stake
The push to privatise Manly has hit its first snag, with the Sea Eagles seeking additional expressions of interest from companies wishing to buy 50 per cent of the NRL club.
Last month, Manly announced a proposal that involved sport marketing company Penn Sport and the leagues club taking joint ownership of the football club. Football club members were due to vote on the proposed four-year deal worth at least $10 million at the annual general meeting on Thursday.
But the vote has been deferred until mid-March so that any interested parties can make an offer before the deadline of February 13.
Leagues club chairman Ken Arthurson says he's not opposed to Penn Sport's offer but believes it wise to open up the process to other bidders.