Sports Entertainment Group (ASX:SEG) has completed the final stages of its accelerated exit from Perth Wildcats Basketball, selling its remaining 30.6% stake to MT Arena Capital Investment, led by Mark Arena, for $12 million.
This follows earlier divestments, including a 52.5% stake sold for $21 million in August 2024 and a 16.9% stake sold for $6.5 million in November 2025.
SEG said the transaction underscores its ability to generate significant equity value through its integrated sports media, events, and brand-building operations, connecting brands with highly engaged fans.
The company’s board will continue reviewing capital management options and provide updates later in the financial year.
CEO Craig Hutchison said owning the Wildcats had been "the biggest honour in our business' 20-year history" and thanked fans, staff, sponsors, and NBL owner Larry Kestleman for their support.
He added that while SEG was exiting as owners, the group would remain fans and wished Arena success in pursuing the team's 11th championship.
At the time of reporting, Sports Entertainment Group's share price was $0.29.