Sports Entertainment Group has fast-tracked the sale of its remaining stake in Perth Wildcats, securing $18.5 million by mid-2026, while reporting a robust start to FY26 with promising earnings growth.
- Acceleration of staged sale of remaining 47.5% Perth Wildcats stake
- Total proceeds of $18.5 million expected by June 2026
- Q1 FY26 performance ahead of prior year
- Reaffirmed guidance of double-digit EBITDA growth for FY26
- Ongoing review of capital management options
Accelerated Exit from Perth Wildcats
Sports Entertainment Group Limited (SEG) has announced an accelerated timeline for the sale of its remaining 47.5% ownership in Perth Wildcats Basketball Pty Ltd to MT Arena Capital Investment Pty Ltd. Following the initial sale of a majority 52.5% stake in August 2024 for approximately $21 million, SEG will now complete the remaining stages of the transaction ahead of schedule, with total proceeds of $18.5 million expected by June 30, 2026.
The staged sale breaks down into three parts – 16.9% of shares for $6.5 million by the end of October 2025, 26.2% for $10.1 million by December 2025, and the final 4.4% for $1.9 million by March 2026. The agreement includes payment grace periods with interest accruing, providing some flexibility on timing.
Strong Start to FY26 and Operational Momentum
Alongside the sale update, SEG reported a strong first quarter for FY26, with results surpassing the same period last year. The company attributes this to the continued success of its integrated ‘whole of sport’ strategy, which leverages diversified revenue streams and operational efficiencies. SEG reaffirmed its full-year guidance of double-digit EBITDA growth, signaling confidence in its business model and execution.
SEG’s financial statements as of June 30, 2025, already reflected an $18.4 million receivable related to the Perth Wildcats sale, aligning closely with the accelerated payment schedule now agreed. The company is actively reviewing capital management options, suggesting potential strategic moves to optimise its balance sheet and shareholder returns in the near future.
Looking Ahead
While the accelerated sale provides a clearer path to liquidity from the Perth Wildcats stake, the broader implications for SEG’s capital structure and investment strategy remain to be seen. The company’s reaffirmed earnings guidance and early FY26 momentum will be closely watched by investors seeking confirmation that operational growth can continue independently of asset sales.
Bottom Line?
SEG’s accelerated Perth Wildcats exit and strong FY26 start set the stage for strategic capital moves ahead.
Questions in the middle?
- What capital management strategies will SEG pursue following the sale proceeds?
- How will SEG reinvest or deploy cash from the accelerated sale?
- Can SEG sustain its double-digit EBITDA growth without the Perth Wildcats asset?