The major sponsor of National Rugby League side Wests Tigers has "revealed an interest in buying a stake" in the club in a development that "paints the clearest picture yet" of what the Sydney franchise's ownership structure will look like beyond next month, according to Chris Barrett of the SYDNEY MORNING HERALD. Brydens Lawyers Principal Lee Hagipantelis said on Wednesday that he would "seriously consider the prospect of purchasing a share in the Tigers" if, as expected, 50% of the franchise is placed on the market in April. Balmain's half share of the team will go up for sale then should it "be unable to meet an obligation to repay" A$5M ($3.6M) in debt to the NRL, which has covered its bills for the past two years, by March 31. Co-owners Wests Ashfield would have the first option to buy Balmain's stake but it is believed it is "reluctant to take full ownership of the team," opening the door for a figure like Hagipantelis to become the NRL's latest private part-owner. His firm last year "took out a rich three-year sponsorship deal" with Wests Tigers but Hagipantelis, a Balmain fan since his childhood, "is eager to extend the association." He said, "I am cognizant of the issues and I am of course appreciative of the brand and the importance of maintaining the heritage that West Tigers has with its stakeholders, being Balmain and Western Suburbs, and I think it would be an attractive opportunity to any so-minded investor." As the principal of what "claims to be the largest litigation firm" in New South Wales, Hagipantelis shapes as the kind of backer that could help take the Tigers to "the next level" as an organization. For Hagipantelis, buying into the Tigers "would be part business decision, part passion project." Hagipantelis: "To be able to affix your name and your business with the club that you actually support is pretty special" (SMH, 2/18).
