Monaco-based millionaire Owen Glenn has bought a stake in the Warriors NRL club two days out from their first game of the 2012 season.
He and Warriors co-owner Eric Watson are entering into a joint venture to own 100 per cent of the Auckland-based club.
Details of the deal were being outlined at a media conference in Auckland on Friday.
Last year, through his philanthropic foundation, Glenn gave Hockey New Zealand $A782,500 to develop the sport and previously gave $5.87 million for a new building at Auckland University which bears his name..
He was spotted at the Warriors last year, prompting rumours at the time about his involvement in a possible takeover.
Watson bought a 75 per cent stake in the club with Mark Hotchin in 2000, before they took total control in 2006 after buying out minor partners.
Serious Holdings, which Watson is involved in, owns 75.5 per cent of the club, while a trust - which lists Hotchin's lawyer Tony Thomas as its only shareholder - owns the rest.
The Warriors, beaten finalists last year, kick off their season at Eden Park on Sunday against defending champions Manly.
