English magnate Marwan Koukash "could face competition" in his quest to buy National Rugby League side Brisbane Broncos "following revelations of a fresh approach to the club's minority shareholder Phil Murphy," according to Brent Read of NEWS LIMITED.
Murphy, who had been in talks with Koukash over his 22% stake in the Broncos, "had been contacted twice in the past two months by parties interested in buying the game’s flagship franchise." Murphy "declined to reveal the identity of those involved, although he did describe the latest interest as genuine and stressed the parties were angling towards purchasing the entire club." Murphy: "I have had two (further) inquiries to see if I am interested in selling my share -- one just before Christmas and another on Monday afternoon." While Murphy "has made it clear he would be open to selling his stake in the Broncos," the club's majority shareholder, News Corp. Australia, publisher of The Australian, "has declined to comment on the sale’s prospects." Regardless, any consortium "seeking to buy the club will require deep pockets." While Murphy’s share in the club is believed to be worth upwards of A$5M ($3.9M) -- he is believed to have paid A$4.3M for his initial 20 % stake -- "a full takeover would cost" as much as A$40M (NEWS LIMITED, 2/6).
