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Billionaire mining magnate Andrew “Twiggy” Forrest is poised to take his first steps into rugby league after finalising a multimillion-dollar partnership with the St George Illawarra Dragons.
The Dragons, one of Australian sport’s most iconic brands, are on the verge of signing off on a $1.2m-a-season major sponsorship deal to advertise Forrest’s renewable energy company, Squadron Energy, on the front of their jersey from 2025.
The deal with the Dragons will be Forrest’s first foray into rugby league. Australia’s second-richest person, Forrest has been one of Australian rugby’s biggest supporters, having poured millions of dollars into Super Rugby franchise Western Force since 2017.
The Dragons confirmed they were in discussions with Squadron Energy when contacted by the Herald but declined to comment given the confidential nature of negotiations.
A meeting between representatives of Forrest and St George Illawarra was first brokered by 2GB radio host and Dragons tragic Chris O’Keefe a couple of months ago.
The Dragons have since developed a strong bond with Forrest’s representatives and are close to announcing one of the game’s most significant sponsorship deals in the code’s history.
Andrew Forrest is backing the Dragons.Credit: Trevor Collens
The NRL is aware of the pending deal and has welcomed the news of Forrest’s venture into the 13-man code due to the financial and emotional investment he has previously given rugby union.
Forrest has an assessed net worth of $33.29 billion according to the Financial Review 2023 Rich List and sits behind only Gina Rinehart on Australia’s rich list.
The deal shapes as a major coup for the Dragons, who have played finals football just once in the past eight years and are looking to new coach Shane Flanagan to change their fortunes.
Squadron Energy will replace long-time partners St George Bank as the club’s front-of-jersey sponsor, but the Dragons are hopeful of continuing the relationship with the bank in some capacity beyond the end of 2024.
Squadron Energy is expected to be the club’s back-of-jersey sponsor for 2024 before taking over from St George Bank as the club’s principal partner the following year.
That deal is expected to be extended, with St George Bank to remain a sponsor despite deciding earlier this year to end its association as the club’s major sponsor following the 2024 season.
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