Welnix and the Hurricanes

Gareth MorganUncategorizedLeave a Comment

I am going to need to adjust to this odd shaped ball

As you may have seen in the media Welnix, the group that I am involved in which owns the Wellington Phoenix, has just bought a stake in the Wellington Hurricanes.

The investment in the Hurricanes is very much a Welnix investment and not a Phoenix investment but benefits should accrue to The Phoenix, through cross-code co-operation in areas like;

 

(a)   Sports science,

(b)   Training facilities

(c)   Training and support facilities for the respective academies.

(d)   A combined voice when it comes to council support and stadium costs and usage

(e)   Ultimately, with the support of the council, we hope to be able to develop a high performance unit, capable of sporting multiple codes here in Wellington

Welnix’s investment in the Hurricanes is a minority one which stands in contrast to our 100% ownership of The Phoenix. This reflects the different roles of the investments in Welnix’s embryonic sports portfolio. We are first and foremost concerned about sport in the Wellington region and want to see it reach its potential insofar as providing the region with sufficient exciting events for the public, and be an aspirational outlet for our children and youth.

In this world of franchised sport though it is clear that there is an onus on regions to capture efficiencies and economies so that the various sports are financially sustainable. There is sufficient synergy of interest between the football and rugby codes to ensure we capture those benefits, not to do so would be to take unnecessary financial risks.

Everyone at Wenix is very excited about the opportunities moving forward.

Welnix and the Hurricanes was last modified: December 15th, 2015 by Gareth Morgan
About the Author
Gareth Morgan

Gareth Morgan

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Gareth Morgan is a New Zealand economist and commentator on public policy who in previous lives has been in business as an economic consultant, funds manager, and professional company director. He is also a motorcycle adventurer and philanthropist. Gareth and his wife Joanne have a charitable foundation, the Morgan Foundation, which has three main stands of philanthropic endeavour – public interest research, conservation and social investment.