Collapse of $75m Sayers Road Trust and financial crisis at Western Melbourne Group
Consensus Summary
The Sayers Road Investment Co, managing a $75 million trust for high-profile athletes like Scott Pendlebury and Adam Goodes, was liquidated by a Queensland judge after major investor George Koulouris requested it. The collapse stems from legal disputes and mismanagement allegations against Jason Sourasis, who oversaw the trust and the Western Melbourne Groupās troubled sporting precinct project in Tarneit. Pendlebury is suing Sourasis for allegedly investing $3 million of his money without permission, while the ATO is pursuing $6.9 million in unpaid taxes. The project, tied to A-League team Western United, faces imminent collapse without $100 million in new funding, risking the shutdown of the club and leaving 200 junior players without a team. The Australian Professional Leagues is pushing for a clean reset to avoid the clubās shutdown, though the trustās liquidation and Sourasisā legal battles continue unabated.
ā Verified by 2+ sources
Key details reported by multiple sources:
- The Sayers Road Investment Co, overseeing the Sayers Road Trust, was ordered into liquidation by a Queensland judge last month.
- The trust holds $75 million in investments for high-profile clients, including Collingwood legend Scott Pendlebury, two-time Brownlow medallist Adam Goodes, and AFL players Dyson Heppell, Jy Simpkin, Josh Battle, and Mason Wood.
- The trust and project were overseen by controversial sporting entrepreneur Jason Sourasis, who faces multiple legal claims for mismanaging investments.
- Scott Pendlebury is suing Sourasis in the Supreme Court of Victoria, claiming Sourasis invested nearly $3 million of his money without permission, including $2 million transferred to the Sayers Road Trust.
- The Sayers Road Investment Co was liquidated at the request of major investor George Koulouris, who alleges he was misled into investments by Sourasis.
- The Western Melbourne Group project, a sporting and entertainment precinct in Tarneit, Melbourne, is in financial distress and faces a D-date deadline.
- The ATO is suing Sourasis in the County Court for $6.9 million in unpaid taxes across several businesses, including Western Melbourne Group entities.
- The Sayers Road Investment Co initially agreed to pay Koulouris $700,000 to halt liquidation, but the payment was not made in April, leading to the wind-up order.
- The A-League team Western United is in hibernation for the 2026 season due to financial issues, and the club has around 7,000 members, with 200 juniors at risk if the project collapses.
- The Australian Professional Leagues (APL) is monitoring the situation and prefers a clean reset for the club to avoid shutdown.
Points of Difference
Details reported by only one source:
- The court decision to place the trust into liquidation is expected to be appealed by Sourasisā interests, according to a confidential source.
- The machinations over the future of the project and the club are not expected to stop the liquidation of the trust or Sourasisā other legal and financial troubles.
Contradictions
Conflicting information between sources:
- The articles are identical in content and do not contain any contradictions.
Source Articles
Sporting elite, including Scott Pendlebury, facing losses as $75m trust collapses
The court-ordered liquidation comes as shareholders in the troubled Western Melbourne Group scramble to find new lines of funding for a large sporting complex in Melbourneās western fringe.
Sporting elite, including Scott Pendlebury, facing losses as $75m trust collapses
The court-ordered liquidation comes as shareholders in the troubled Western Melbourne Group scramble to find new lines of funding for a large sporting complex in Melbourneās western fringe.