New Zealand’s NBL side assembles bank dream team in search for deal
afr.comThe New Zealand Breakers – a privately owned National Basketball League team – are close to finalising their advisory bench as they prepare to test the appetite of potential buyers, with four bankers from Los Angeles to Sydney set to play key roles.
It is understood the Breakers will lean on Cameron Partners to tackle any New Zealand suitors. That’s in addition to MA Moelis, whose global sports deals experience put it in the box seat to come in as the sports team’s primary adviser, as reported by Street Talk in late August.
The Breakers were one of the top teams in the NBL, second only to the Sydney Kings. Getty Images
Sources said MA Moelis would have Los Angeles-based managing director Daniel Zweben and Sydney-based TMT banker Ben Wong running point on the deal. Cameron Partners’ Toby King is likely to be called in for any approaches from New Zealand. It is understood the two banks’ roles are as good as finalised but formal paperwork is yet to be signed.
In the background, ex-Wall Street banker Nathan Troutman has been serving as an adviser to Breakers’ owner Matt Walsh. Troutman helped Microsoft co-founder Paul Allen restructure NBA teams in the United States including the Seattle Seahawks and Portland Trail Blazers. He did the same for hedge fund legend Julian Robertson’s New Zealand golf courses Cape Kidnappers and Kauri Cliff – leading to his arrival in the Breakers’ camp.
In basketball parlance, the deal is at half-time. There’s an advisory line-up, but it’s yet to receive its marching orders. Sources said the Breakers are unlikely to run a traditional two-part auction and would end up with a structured deal that leaves majority owner Walsh room to stay involved.
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