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Gordon buys half NRL stake in Dragons

NZN 19/04/2016

Billionaire businessman Bruce Gordon is set to take a 50 per cent stake in NRL club St George Illawarra, according to a report.

Fairfax reported that Gordon would repay a debt of $6 million to $7 million to the NRL as part of his holding.

Gordon owns media outlet WIN Corporation.

It was also reported the Magpies were to move to a 75 per cent equity in Wests Tigers, the NRL joint venture between Western Suburbs and Balmain.

The Balmain Tigers, who are already in a difficult financial position, would need to raise $2.7 million to acquire a 25 per cent share of the club and board representation but are said to be going to be given five years to do so.

The official announcement of the restructures will be supervised by the NRL's Tony Crawford.

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