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Private equity firm Altor Capital has completed its acquisition of the Tasmania JackJumpers and plans to expand the National Basketball League (NBL) team’s home venue to meet the demand for tickets.
The JackJumpers play at MyState Bank Arena, which has a capacity of around 4,300 for NBL games. The arena is located in Glenorchy, just outside of Hobart.
The JackJumpers sold out every home game during the 2024-25 NBL season. Indeed, the team has sold out every game since entering the NBL in the 2021-22 season and won the league title in 2024.
According to ESPN, Altor Capital will take on a 51% stake in the JackJumpers, with the deal valuing the team at A$35m (£17.6m/€21.2m/$22.2m).
Larry Kestelman, NBL owner and executive chairman, said: “Together with the Tasmanian government and the community, we built this incredible club from the ground up in only five years and in that time the JackJumpers have become an integral part of the state and the NBL.
“They have enjoyed remarkable success on and off the court and brought so much joy to so many. From the outset the plan was to build a legacy piece for the state and something the community will have to support and celebrate for decades to come.”
Under the terms of the ownership transition agreement, Kestelman will remain involved with the JackJumpers for the next two years to ensure a smooth handover to Brisbane-based Altor Capital. The new owners will place a focus on increasing the seating capacity at MyState Bank Arena to address ongoing demand for access to games.
Ben Harrison, Altor Capital’s chief investment officer, added: “We are honoured to be entrusted with the next chapter of the Tasmania JackJumpers and will be focused on continuing the team’s incredible momentum. We intend to grow the JackJumpers’ impact on the state and in the community even further.
“We will also ensure fans continue to have the best entertainment experience in the country, while strengthening the club’s infrastructure, and building on the incredible foundations that have been laid since 2020. We will continue to support the JackJumpers Advisory Board and executive team in their desire to secure a WNBL team for the state of Tasmania.”
In January, the JackJumpers posted a 50th consecutive home game sellout at MyStateBank Arena, with an additional eight sellouts at the Silverdome arena in Launceston. The NBL has passed the one-million mark for cumulative fan attendance in each of the past two seasons.
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