Paul Sergeant, the former chief executive of Melbourne’s Marvel Stadium, has reportedly claimed he was unsuccessful in attempts to raise fresh capital for his events management company after it went into liquidation.
Paul Sergeant Events (PSE) was formed in October 2017, but The Age has now reported on its demise. The Australian newspaper stated Sergeant, now director of special projects at AEG Ogden, had tried unsuccessfully to raise funding to cover ongoing business costs before deciding to close operations in March.
Notice was given that at a general meeting of the members of PSE held on March 25, it was resolved that the company be wound up and that Ivan Glavas of Melbourne-based Worrells Solvency & Forensic Accountants be appointed as liquidator.
The Age states PSE owes more than Aus$1.3m (£700,000/€812,000/$910,000) to 14 creditors, with the main one being stadium management company PMY Group. The tax office is also owed just under Aus$50,000, while an events company based at Dublin’s Croke Park stadium is due just under Aus$70,000.
The core function of Melbourne-based PSE was to provide advisory services to the rights-owners of fringe sports events and venues within Australia that were in need of support in order to grow.
Prior to PSE, Sergeant held the chief executive role at Marvel Stadium, which he stepped down from in 2016. He also held lead roles at London’s Wembley Stadium, Sydney’s Qudos Bank Arena and Cardiff’s Principality Stadium.