- Publish Date
- Tuesday, 24 September 2019, 7:40PM
The Warriors' ownership has changed hands, for the second time in less than 18 months.
Autex Industries will become the sole owner of the NRL club after several weeks of negotiations. The Avondale based company have agreed terms with the Carlaw Heritage Trust to buy their 67 per cent stake in the Warriors.
Autex managing director Rob Croot will remain as Warriors' chairman, while CEO Mark Robinson will be the senior director on the club's board.
Once settlement is completed, Croot and Robinson will appoint a new board.
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CHT and Autex purchased the club off Eric Watson for $16 million in April 2018, with Autex taking a 33 per cent share of the joint venture arrangement.
It's understood that CHT have sold their share for significantly less than they paid for it, which will result in a multi-million dollar loss for the Trust.
But the CHT, which was set up with the proceeds of the development of Carlaw Park, have ultimately decided they couldn't afford to invest any more Trust money in an NRL club, with the Warriors expected to need significant funding over the next few years.
The deal was confirmed at the Warriors' end-of-season awards tonight.