Craig Hutchison’s SEN Teams group has sold their majority share of the Perth Wildcats, it has been confirmed for $40 million.
Mark Arena, a Perth-born tech entrepreneur, has signed a deal to purchase a 52.5 per cent stake in the powerhouse NBL club ahead of the start of its next season.
Plans are in place for Arena to purchase a 90 per cent holding in the club and a 100 per cent ownership stake by 2028.
Hutchison purchased the club for a reported $8.5 million three years ago.
The buyout is still subject to league formalities and is expected to be confirmed before the season starts in September.
Arena is a life-long Wildcats fan and has returned to Perth from Europe and has declared he wants the club to be “Western Australia-first” and intends to hark back to the club’s glory days in terms of public exposure in the 1990s.
“I want to hear from the players, Wildcats staff, the league, corporate partners, fans and a range of stakeholders that stand to benefit from, and are invested in, a strong Perth Wildcats team,” he said in a statement.
![New Perth Wildcats owner Mark Arena.](https://timesofsydney.com/wp-content/uploads/2024/07/b8592b58e7161d829d741190b67f5947896a5124.jpg)
“Whilst keeping an open mind, I feel strongly that we’ll be a club that will be Western Australia first in our intent.
“The Perth Wildcats is one of the strongest teams in the NBL. The previous owners – most recently Jack Bendat and SEG — built a strong community following and then further exposure via the SEG network.
“I intend to bring my technology and business growth skills to the table to deliver an unprecedented experience for both fans and our sponsors and to reinvigorate the authentic basketball culture that I first fell in love with in the 90s.”
“I’m just really looking forward to seeing the buyout formalities complete so we can get to work on this bright new home-owned era for the Perth Wildcats.”
SEN Teams has been contacted for comment.
It comes ahead of Perth’s basketball extravaganza to launch the new season in September, with all NBL, WNBL and national under-age teams to head west for HoopsFest.
The Wildcats have just had Next Star product Alex Sarr drafted to NBA club Washington Wizards and landed another overseas draft prospect, Spanish junior star Izan Almansa.
More to come