Multi-millionaire Rick Penn has purchased his co-owner’s share in the Manly Sea Eagles, a move likely to have significant ramifications for the retention of key players and staff at the NRL club, including star forward Anthony Watmough.
Penn now owns 90 per cent of the Sea Eagles, after buying out co-owners Quantum in a deal estimated at around $6 million late on Wednesday night.
Manly have been troubled by internal strife for several years now and the Penn buy-out is set to put an end to that.
The Penn family announced on Thursday they had agreed to terms with the Quantum Group to buy their stake in the Sea Eagles effective immediately.
“We want to thank The Quantum Group for their contribution to the Sea Eagles over the past three years and their major sponsorship prior to that,” Scott Penn said in a club statement.
“We acknowledge that the past couple of years off the field have been difficult, however we are committed to ensuring the Sea Eagles are a world-class organisation under consolidated ownership.
“There are a number of exciting initiatives which we will be announcing over the coming weeks to ensure our members are as excited as we are about 2015.”
Restless representative forward Watmough has been strongly linked to an exit from Brookvale, due to the continued fallout from the unpopular decision from Sea Eagles management not to offer Glenn Stewart a new contract earlier this year.
Watmough is also understood to be at loggerheads with general manager David Perry.
The 31-year-old Watmough remains under contract at Manly until the end of next year, but speculation has been fierce he could exit before the start of the 2015 NRL season, with Parramatta rumoured to be a likely new home.
But following the ownership shake-up Watmough could pledge his future to Manly, the club he has won two premierships with.