Mark Bouris reveals how Eddie McGuire outwitted him over $1.6million deal to sponsor Collingwood
‘He got me fancy’: Famed businessman-turned-TV star Mark Bouris reveals how Eddie McGuire outwitted him in a $1.6m deal to sponsor Collingwood
- Billionaire businessman Mark Bouris sponsored Collingwood in 2005
- He was outwitted in the deal by former Magpies president Eddie McGuire.
- Bouris thought the team would not reach the final, he had to pay a bonus when they did
Mark Bouris’ business skills have earned him a fortune and even television stardom as the host of TV’s Celebrity Apprentice, but Eddie McGuire taught him a lesson about the finer points of football sponsorship deals.
The flyer has revealed that he was approached by the former Collingwood chairman about sponsoring the famous AFL club after a deal he had with the NRL fell through.
Bouris’s Wizard Home Loans business had been the naming rights sponsor to the rugby league State of Origin series, which worked wonders for the company, but balked when the asking price rose to $1.2 million.
Mark Bouris has made millions and millions of dollars from his ability to do big business, but he found his match in Eddie McGuire.
Before Wizard signed the deal with Collingwood, then-Chairman McGuire warned Bouris that the price would go up if the lowly Magpies made it to the finals, which they did.
Enter McGuire, who remained at Bouris after initially saying he wasn’t interested in sponsoring the Magpies.
‘I said, ‘Where are you guys?’ [on the ladder] and he said: ‘Second last’. The deal is $750,000, much cheaper than the State of origin, but what you have to do is pay a bonus if we reach the semi-finals,” Bouris told the herald sun.
‘So I thought I’d be pretty safe considering I finished second. Then the following year they finished in the grand finale and it went from $1 million to $1.6 million.
Eddie got me a treat.
Bouris did not specify what year the deal was made, but Wizard signed as a top-tier sponsor with Collingwood in 2005 in a five-year deal that was believed to be the biggest in Australian rules football at the time.
Bouris thought he would be “pretty safe” when it came to his chances of having to pay extra because the Magpies had finished second that year.
That year, the Magpies finished second to last, winning only five of 22 games and were victorious in only one of their first eight matches.
In 2006 they rocketed up to finish fifth, but instead of reaching the grand finals, they lost to the Western Bulldogs in the first week of the final series and their year was over.
They then made the biggest game of the year in 2010, when they drew with St Kilda before beating them in the grand final replay.
“It is an absolute privilege to be associated with Wizard Home Loans, one of Australia’s great business success stories,” Mr. McGuire said when the deal was closed.
No wonder he felt so good about it.