In addition to his impressive business credentials, Kestelman is widely involved in the community and has won a variety of awards and recognitions for his achievements in supporting multiple charities and initiatives. 1 talking about this. It means the likes of Chris Goulding and David Andersen (two of the best players in Melbourne) will go head to head with Russell Westbrook and Paul George (two of the best players in the world). He's really selling a story.". "We're back to being a credible proposition," he says. The man seems happy in the moment until he notices something amiss. Justin Kestelman calls it my first highlight basketball memory being 10 years old, on the Gold Coast, hanging out with the Melbourne Tigers. Such stories are not uncommon. Australias richest man, Andrew Forrest, says he is sad to see the chief executive of his private investment arm and philanthropic interests exit. He describes the wheeling and dealing up until this point with near constant flights to China and the United States, with endless announcements and launches as something akin to "hand-to-hand combat". Roberts has a diverse number of investments including funds management and he is part of businesses such as AVWest and Warburton Group. In a sense he's happy to gamble on one day securing both a commercial victory and a legacy. "Any bag. We are onto doing slightly bigger developments. He walks me through the abridged biography a few days later, in his 16th-floor penthouse office in Albert Park. Larry Kestelman (@nbl_larry) Instagram photos and videos nbl_larry Verified 93 posts 2,807 followers 789 following Larry Kestelman Public figure Official Instagram of Larry Kestelman - Owner of the Australian National Basketball League & Executive Group Chairman of the LK Group. window['fe-co-email-widget-fe-co-email-widget_1'] = {"position":"middle","hasSeparators":true,"theme":"domain"}; Pre speech nerves, least the range looks ???? The Australian losers included Melanie Perkins and Mike Cannon-Brookes. "If you are not wearing the First Ever uniform or apparel you will be potentially supporting operators selling poor quality goods at inflated prices without any concern for the game of basketball.". "I can see that we're now getting the phone calls instead of making them." Larry Kestelman wants to stop parents and amateur sports participants getting ripped off by the "leeches" that sell uniforms and apparel to thousands of teams and clubs across the country without putting any money back into the sport. If you're granted an audience with Kestelman, it's not unusual for it to be held here. Down on level one, the office of First Ever is buzzing. Help using this website - Accessibility statement. He is ranked 85 on the list behind the highest ranking debutant, Perth businessman Tim Roberts who is the son of Multiplex founder John Roberts who is ranked 62. [2], .mw-parser-output .citation{word-wrap:break-word}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}^[note a]: By calculation, the 2019 list is the 36th edition published, despite the reference by Nine Entertainment that the list is the 37th edition published. There are nine in the US league right now (and more on the way) including Patty Mills (San Antonio Spurs), Thon Maker and Matthew Dellavedova (Milwaukee Bucks), Dante Exum and Joe Ingles (Utah Jazz), Aron Baynes (Boston Celtics) and Mangok Mathiang (Charlotte Hornets). This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Heres what hes learnt. Kestelman has been watching the steady decline of basketball in Australia, despite the high level of talent, and had to do something. Then he began dipping into other ventures, co-ordinated from an office above a fish and chip shop in Elsternwick. The Stokes familys Seven Group used creep provisions and now sits at 72.6 per cent, after a complex exchangeable notes deal. By the time Kestelman came across the league two decades on from its salad days it was financially bereft and almost irrelevant, with a disenchanted fan base, chaotic governance structure and little government support or corporate backing. The differences between Andrew Forrest and Gina Rinehart on energy shine a light on the dilemma facing a nation blessed with oil, gas, and the sun and winds needed for renewables. We've gone from the depths of despair to a position of immense optimism. Theres an odd new arrival on Perth Basin gas player Strike Energys shareholder register amid the takeover battle for Warrego Energy. They made their initial fortune selling teeth whitening kits. And he has. ), Larry Kestelman is on a mission to turn the National Basketball League into a going concern.Credit:Kristoffer Paulsen. "It's a little bit of unreality, but it's real. When a good offer came in, we thought its probably time. "Basketball is roast chicken," he says. "It's your average family, eating in front of the TV on Sunday night. The combined wealth of the 200 individuals was calculated as A$342 billion; compared with a combined wealth of A$6.4 billio #OTTNO, A post shared by Justin Kestelman (@justinkestelman) on Apr 1, 2018 at 12:45am PDT. After watching his son play basketball, Larry Kestelman liked the sport so much he bought the NBL.Credit:Kristoffer Paulsen. In 2015 he spent $7 million on a 51 per cent stake in the league itself. He also made millions as a property developer. His millionaire businessman father, Larry Kestelman, admits that his own passion for the sport also has familial roots. Basketball has been that connector., Justin concurs: Basketball isnt a thing without him. Lemanis argues the NBL has rapidly become one of the world's toughest competitions. at Become a Finest Broker or Agent I'm like, 'Shit, I wanna watch that!' His days are literally planned to the minute. With those empty seats filled, he settles in to enjoy the show. Mr Kestelman, who founded the internet company Dodo and owned the Melbourne United basketball team, had earlier been a shareholder of the listed Pas Group, and moved to block a takeover bid of the company in 2015 by Coliseum Capital with his 10 per cent stake. For his 50th birthday last year, Kestelman flew 35 people to the sun-kissed Italian coastal village of Amalfi. Jewish by birth but not at all religious, Kestelman is a member of none of Melbourne's exclusive boys' clubs except the Huntingdale Golf Club. Soccer did not rise simply on the back of a reinvented A League, or even because of the largesse of Frank Lowy. Well now have in the group 250 free-standing stores and 117 concessions in department stores and a comprehensive online and wholesale business.. ", "Billionaire property developer Hui Wing Mau the highest debutant on BRW Rich List", "Mystery billionaire emerges from corporate shadows", "Letztlich macht es keine Differenz, ob Ihr Vermgen eine Milliarde betrgt oder sechs", https://en.wikipedia.org/w/index.php?title=Financial_Review_Rich_List_2019&oldid=1068701069, This page was last edited on 29 January 2022, at 22:09. He believes in me and trusts me, which is scary, but reassuring at the same time. The Australian losers included Melanie Perkins and Mike Cannon-Brookes Jan 2, 2023 Devon Pendleton Federal election Ten top AFR. "Just pick a bag," he said. Now, these Young Rich Listers are planning to take on global giant Colgate at their own game: toothpaste. [10], In 2015, Kestelman secured a majority 51 percent stake in the National Basketball League in exchange for a A$7 million equity stake. Kestelman was born in 1966 in Odessa, Ukraine then lived in Italy before moving to Australia with his parents at the age of 12. We will offer four weeks' delivery from when we get an order, so we have to be a manufacturer and look at the logistics side from door to door as well. Pickstar shares the most inspiring, weird, and wonderful sports content from around the world, along with exclusive interviews and podcasts with sports stars and leaders in the sports industry. Melbourne property developer Larry Kestelman the second highest debutant on Rich List. With Financial review Rich Listers dotted throughout the room, its little wonder that Sydney Dance Companys Dance Noir fundraiser on Saturday night was one of its most successful ever. "You can see it in dreamland, but probably not in this land where the football codes have such a cultural stronghold.". The Blundy effect has finally arrived at womenswear retailer City Chic Collective! ", Kestelman seems ready. While he's best known as the face and founder of telecommunications and utilities provider, Dodo, the passionate Executive Group Chairman has . ", With the NBL, Kestelman is close to getting what he wants. Meet the National Basketball Leagues Kestelman family: together, they live and breathe the competition. However, in Perth, the league still had great potential. In his first year as league owner Kestelman negotiated a new television rights deal, the revival of the Brisbane Bullets, and a revamp of the league's brand identity and digital platform. Mr Kestelman told The Australian Financial Review the acquisition of Brand Collective would lift the groups annual sales to about $550 million, increasing its exposure to footwear to about 50 per cent of sales and lifting retail sales to about half its revenue. ", Harris, the author of Boom!, has seen what international success can do. Vacant bleachers on a TV screen will send a negative message. "Have you watched Australian Ninja Warrior?" "It's about cheerleaders, fireworks, lights and music," he says later, in his slight, singsong Slavic accent. If Justin feels any obligation to succeed, its as much to himself as to his father. Designed by architects Fender Katsalidis, the apartment project is expected to get under way early next year with completion due in 2025. "I can't imagine that," Kestelman says, staring out the window. I had a designer and a buyer, and the rest is history., 10 years of spilt beers, banter with the opposition and lost voices. It's better than shovelling shit or cleaning toilets, but it's not easy It's hard work. Basketball is bigger in those terms than AFL or rugby, both of which are constrained by their geographic heartlands. He points out that Kestelman just signed a deal to host the comedic exhibition games of the Harlem Globetrotters when they next tour Australia. The man is Larry Kestelman, a Ukrainian immigrant turned accountant turned property developer turned multi-millionaire businessman and possibly the only man in the Western world to own both a professional sporting league as well as teams within that league. "If you end up in a marriage for 20 years and a big part of it is happy, and you have a beautiful son, you don't think of it as a failure. Kestelman has good reason to believe in ascendance: it's his life story. The standard of play was good but many games were back in those old tin sheds. "If I got a 'no' 52 times, I'd probably be curled up in a corner talking to a psychiatrist. "You find enough people you like and all of sudden you have this gang. As of 2017 his interests outside of property included Philippines-based call centre provider Acquire BPO, recruitment agency First Avenue, investment firm Oxygen Ventures, digital content firm Newsmodo, human resources firm Wall Street, customer loyalty provider Infinite Rewards, and software companies eCal, eTaskr and Saisei. Perhaps the name rings a bell from the latest Australian Financial Review Rich List,on which Kestelman ranks 85th with an estimated wealth of $749 million. His support for the game is both an act of civic philanthropy and an investment. "One person at a time, one battle at a time," he shrugs. "It's possible that we'll be in the extraordinary position of having to leave an NBA player out of the Boomers," Lemanis says. [7] His net worth was assessed at A$1.1 billion in the 2022 Rich List. The Williams Road sites new owner is local developer JCL Prime, which will pursue the development with builder Henny. The purchase price was not disclosed. Players went overseas to compete, supporters drifted and sponsors fled. The days of us doing more boutique ones are behind us.. That's how he sees the game, incidentally as showbiz, akin to a concert experience. "It's a different ball game. LK Property Group is one of Victorias leading property developers in each category of luxury, five-star inner-city residential, and premium market development. "It just meant I had a little money for a slice of pizza and pinball. Talking to superstars, being part of that atmosphere; that really put the fire in my pit, says the 24-year-old. The 50-year-old owner of Australasia's professional men's basketball league, the National Basketball League (NBL), didn't coax China's national basketball team here to play in friendlies this one against the Brisbane Bullets on the Gold Coast only for viewers at home to think no one cares. 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