The entire Wests Tigers board has been dismissed in a stunning move following a bombshell internal review.
Chairman Lee Hagipantelis and chief executive Justin Pascoe have both departed, with the latter reportedly offering his resignation on Tuesday according to The Daily Telegraph.
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Hagipantelis held his role as chairman for four years.
His legal firm, Brydens Lawyers is also the Tigers’ major sponsor and pays around $1 million a season for a spot on the front of the jersey.
His shock departure comes after it was reported last week that there are concerns Brydens Lawyers may not renew its deal as a major sponsor if Hagipantelis is no longer involved with the club.
It means the Tigers could be forced to hunt for a new sponsor.
Hagipantelis had no say in his future because only the club’s shareholders — the Holman Barnes Group, Wests Magpies and Balmain Tigers — have the power to make the changes.
The Tigers had a board meeting scheduled for Tuesday night but it is understood it has been delayed by 24 hours to complete legal documents and allow the club to get its new leadership structure in place, according to The Daily Telegraph.
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The board cleanout follows an independent review that was ordered by the Holman Barnes Group and undertaken by former NRL chief financial officer Tony Crawford and Gary Barnier, the managing director of Benchmarking Matters and Cooperage Capital.
Former NSW premier Barry O’Farrell will become the interim chairman and ex-Rabbitohs chief executive Shane Richardson will replace Pascoe.
Interim O’Farrell will return for his second stint as chair. He was appointed to the role four years ago but departed after less than 12 months due to other commitments.
The interim board will go from seven members to four and it will be made up of representatives from each of the club’s shareholders. Dave Gilbert will represent the Holman Barnes Group and Danny Stapleton will represent Balmain, while Wests are yet to confirm their nomination.
“We all share one goal – to see the Wests Tigers again become a real force in the NRL on and off the field,” Stapleton said via the Sydney Morning Herald.
The Tigers have collected back-to-back wooden spoons, with rookie coach Benji Marshall leading the side into 2024.
MORE TO COME.
