Cronulla Sharks secure $5 million windfall after a big night in New York
Sharks powerbrokers have detailed an extraordinary 48-hours that has resulted in an immediate $5 million cash injection from one of Australia’s most influential businessmen.
ARLC chairman Peter V’landys vowed that the NRL’s US odyssey would result in new revenue streams.
And here’s the proof.
Sharks powerbrokers have detailed an extraordinary 48-hours in New York that has resulted in an immediate $5 million cash injection from one of Australia’s most influential businessmen.
Flying from the NRL season launch in Las Vegas to New York last Sunday, Sharks chairman Steve Mace and CEO Dino Mezzatesta met with Mike Dorrell, the CEO and co-founder of US$61 billion global investment firm Stonepeak.
From a meeting with Dorrell at his plush New York offices, Cronulla’s most significant decision-makers were taken to dinner at one of the Big Apple’s most exclusive clubs.
Over a lavish meal, the Sharks even offered Dorrell, a tragic Cronulla fan, the chance to FaceTime club legend Andrew Ettingshausen.
Born in Sutherland Shire with his father a teacher of Port Hacking High, Dorrell owns Stonepeak, an American investment powerhouse headquartered in New York City.
The firm invests in infrastructure, with offices in Hong Kong, Houston, London, Sydney and Singapore.
It is the largest independent infrastructure investment firm in the world.
Ironically for the Sharks, who are eager to be chosen as one of the four teams that are given the chance to play in Las Vegas next year, Stonepeak acquired The Cosmopolitan Hotel in Sin City for US $5.65 billion in 2022.
The decision by Dorrell to support rugby league, is not only a major coup for the Sharks via a multimillion-dollar donation, but also the entire game.
It speaks to V’landys guarantee that the game’s push into the US market would open up new relationships.
At a time where the Sharks are pushing to overcome major delays with the opening of their new Leagues Club, Cronulla’s ability to receive a $5 million cash bonus from Dorrell after just 48-hours in New York is an extraordinary win for the Shire-based club.
Dorrell had sent Mezzatesta and Mace a message last January introducing himself and his love for the Sharks.
It led to the Sharks executive’s wrapping-up their Las Vegas experience on Sunday to fly to New York to meet Dorrell, alongside his brothers, Lucas and Ben, also Sharks fans living in the US.
The group then went next door to members-only restaurant ZZ’s Club New York.
Dorrell said he had been watching from afar the swift transition of the Sharks from near bankruptcy to asset strong under the stewardship of Mace and Mezzatesta, which is what triggered his approach to be part of the continual growth of the Shire-based club.
“This is for the Sharks club and fans,‘’ Dorrell said of his multimillion-dollar cash gift to the club.
“I have followed the Sharks religiously since I was a young boy, from Steve Rogers, to ET (Ettingshausen) and Mark ”Sparkles” McGaw, to David Peachey and onwards.
“I have watched and re-watched the 2016 Grand Final, a game which gave every Sharks fan a near heart attack in the final minutes, followed by a multi-generational outpouring of joy when we won.
“My dad taught at Port Hacking High School and is a Sharks fan.
“My brother Simon played professionally. Rugby League is in our blood.
“I can’t speak highly enough about the current players and management.
“Let’s not wait 50 years for another premiership.”
Mace said Dorrell’s investment in the Sharks was validation for the club’s trajectory.
“Mike’s support and involvement with the Sharks will undoubtedly bring a significant boost to our reputation and financial standing,” Mace said.
“Both Dino and myself are delighted to welcome lifelong Sharks supporters into the club’s family.
“We didn’t know what to expect. We hit it off immediately with Mike, Lucas and Ben. Like old mates with a shared love of the game.
“The collaboration with the Dorrell family is expected to provide invaluable support to the Sharks and further elevate the club’s stature.”
Mezzatesta said the NRL’s decision to promote the game into the US provided an extraordinary conduit to Dorrell, while also pushing the Sharks hopes for a Las Vegas start in 2025.
“The NRL gave us all a reason to enjoy our game in the USA and the Dorrell family are hopeful they will be watching their team, the Sharks, play in Vegas for 2025,” Mezzatesta said.
The Sharks aren’t the only team to have received an immediate benefit from spending time in the US.
As revealed by The Daily Telegraph,
Manly have held talks with the UFC over an alliance that could culminate in 4 Pines Park being turned into a modern 20,000 seat stadium with a roof.
Sea Eagles chair and majority owner Scott Penn met UFC powerbrokers while in Las Vegas for the club’s season opener against South Sydney, where they discussed a potential partnership that would result in the UFC using 4 Pines Park as their training base in Australia.
Elsewhere, the president of NFL team the San Francisco 49ers has expressed an interest in potentially purchasing an NRL team.
Sharks’ secret meeting with $61 billion man
