Auckland Rugby League Agrees To Asking Price For NRL Side NZ Warriors

The Auckland Rugby League's move to acquire National Rugby League side New Zealand Warriors is "gathering momentum," according to Michael Burgess of the NEW ZEALAND HERALD. Representatives of the ARL, who "hope to take a majority share" in the NRL club through the Carlaw Park Heritage Trust, agreed to an asking price with current Owner Eric Watson, "resolving a previous gulf between their respective valuations of the club." The ARL has "almost completed its second week of due diligence of the club," and has "one of the big four accounting firms" acting on its behalf to do a "comprehensive appraisal of assets, liabilities and accounts, which is the final step before a sale and purchase agreement can be negotiated." There could be a settlement date as early as the end of next month. The ARL intends to take a 55% shareholding in the Warriors, with three corporate partners taking 15% apiece (NZ HERALD, 10/25).