It promised to deliver the best sporting franchise in Australia or New Zealand.
But Eric Watson and Sir Owen Glenn’s co-ownership of NRL club the Warriors is unravelling in spectacular fashion.
The rift between the two Europe-based multi-millionaires has been exposed with their war of words over coach Matthew Elliott’s departure from the club.
Watson has been with the Warriors since 2000, when he took a 75.5 per cent stake in the club.
He assumed full ownership when he bought the balance of the shares, which were held by Mark Hotchin, his former partner in failed lender Hanover Finance.
Glenn, a noted philanthropist who also supports New Zealand hockey, came on board in early 2012.
In March that year, two days before the Warriors’ first match of the season, Watson and Glenn announced a 50-50 joint venture.
Four months later, the pair unveiled a number of investments in the Warriors, with Watson saying: “We want this club to become the best single sporting franchise in Australasia.”
The vision had a rocky start, as the Warriors proceeded to lose their next seven fixtures.
The run was part of an eight-match losing streak to end the season, during which coach Brian McClennan was shown the door.
McClennan’s assistant, Tony Iro, took charge as caretaker for the last two matches, but lost out to Elliott when the club made a permanent appointment.
While other candidates were linked to the vacancy, including Melbourne premiership-winner Craig Bellamy and Kangaroos coach Tim Sheens, Warriors chief executive Wayne Scurrah said the club got the man they wanted.
Glenn admitted he hadn’t heard of Elliott when the search began, but made a plea for the media to give the former Canberra and Penrith mentor a fair go.
Elliott’s first season was a roller-coaster that included a club-record 62-2 mauling by Penrith, followed by a run of seven wins in eight matches that almost led to the playoffs.
His exit came after the limp 37-6 defeat to Cronulla that left the Warriors, who added big-money signing Sam Tomkins to their roster over the summer, with a 2-3 record and 14th on the table.
The press release announcing Elliott’s departure said he had resigned, prompting Glenn to set in motion his public spat with Watson.
Glenn lambasted “the dishonourable treatment of an honourable man” who he said didn’t jump but had been pushed.
He said he hadn’t ratified the decision and his relationship with Watson, professionally and personally, had broken down.
Watson said Glenn’s decision to go public was hard to understand, given that Glenn was looking to sell his stake in the club.
Watson said Elliott resigned, but also admitted that he was going to be sacked otherwise.
“One way or the other, he was going,” Watson said.
The man in the middle showed an apparent calmness to the storm swirling around him.
Elliott said his opinion over his departure would have zero impact, he bore no bitterness towards the Warriors, and he believed his successor, Andrew McFadden, could take them to sustained success.
