New Ltd sells Cowboys for undisclosed sum

AAP General News (Australia)
08-28-2007
New Ltd sells Cowboys for undisclosed sum

SYDNEY, Aug 28 AAP - After months of speculation, News Ltd announced today that it
had sold the North Queensland Cowboys Rugby League Club to the Cowboys Leagues Club for
an undisclosed sum.

News Ltd company secretary and Cowboys board member Peter Jourdain said News Ltd had
taken over the Cowboys in 2001 to ensure it survived through a turbulent and difficult
era.

"From the outset, News Limited's intention was to help the club grow until it was in
a position to stand on its own two feet," he said.

"That day has arrived."

Mr Jourdain said the Cowboys Leagues Club is well placed to take the club forward and
realise its potential.

North Queensland Cowboys chief executive officer Peter Parr said with the sale now
complete, the Cowboys had an exciting future as a community-based club under the ownership
of the Cowboys Leagues Club.

"We look forward to continuing the positive results of recent years and ensuring that
the Cowboys remain in a strong position, both on and off the field for many years to come,"

he said.

The Cowboys Leagues Club was formed in 1994 but ceased to operate between 1999 and
2001, when it reopened in a new, state-of-the-art premises in Townsville. It has traded
successfully since then.

The Cowboys football club has been been largely successful in the past few years reaching
the finals in three of the past four seasons.

Peter Jourdain now has resigned his position on the Cowboys board of directors.

New Ltd retains its interest in both the Brisbane Broncos and Melbourne Storm.

AAP clf/pe/jlw

KEYWORD: NEWS COWBOYS

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