Scott Pendlebury, the captain of the Collingwood Football Club, has taken legal action against his former manager, Jason Sourasis, alleging that Sourasis misappropriated $3 million from his investment accounts. As Pendlebury seeks to recover this significant sum, other investors are also coming forward with claims related to Sourasis’ financial practices.
Pendlebury’s allegations involve claims that over a span of nearly a decade, Sourasis siphoned off more than $2 million from his investment funds. The Collingwood star communicated with friends and fellow investors on Tuesday, discussing the implications of his court case. Sourasis, who is associated with the Western Melbourne Group, has publicly denied the accusations. “The allegations are vehemently denied,” he stated, adding that due to the ongoing legal process, he could not provide further comments at this time.
Growing Concerns Among Investors
According to sources familiar with the situation, concerns are mounting that Pendlebury’s claims may represent only a small portion of broader financial difficulties facing Sourasis. One source indicated that another former Australian Football League (AFL) player may have invested as much as $1 million into the Western Melbourne Group, which aims to develop a major sporting and entertainment complex in Tarneit.
The viability of this ambitious project is now in jeopardy, particularly following revelations about Sourasis’ financial troubles, including a personal tax liability that reportedly surged from $3 million to $6.7 million, as per recent filings with the Australian Taxation Office (ATO).
Prominent financier Ozzie Kheir, known for owning the 2021 Melbourne Cup winner Verry Elleegant, claimed he is owed “a substantial amount of money” by Sourasis, stemming from a failed business deal related to property development. Kheir noted, “I expected to be paid once he completed the Western Melbourne Group development. I haven’t yet started any legal proceedings to seek the return of the funds only because I hoped the project would be completed.” He now considers his options as the project’s future appears uncertain.
Impact on Business Ventures
Several sporting figures are reportedly involved in the Western Melbourne Group project, including two-time Brownlow Medallist Adam Goodes, and fellow AFL players Dyson Heppell, Jy Simpkin, Josh Battle, and Mason Wood. Additionally, tennis star Thanasi Kokkinakis and former NBA player Dante Exum have invested in the venture.
Sourasis and Pendlebury had a close relationship, having collaborated on various projects, including a wine named “The Pendlebury.” Their partnership extended to a café, Albert Street Food & Wine, which has since closed. The breakdown of their relationship has reportedly left Pendlebury devastated.
In light of the ongoing issues, Sourasis expressed personal shock at the allegations. “I am devastated about the breakdown of my relationship with Scott,” he remarked. Furthermore, Sourasis’ financial planning business, Strategic Financial Group Australia, has faced liquidation due to unpaid tax debts, with staff reportedly owed $123,000 in entitlements. Another entity linked to him, known as The Township, has also entered liquidation.
While Western United, the A-League team where Sourasis serves as executive chairman, has avoided formal liquidation thus far, it has accumulated nearly $8 million in debt to the ATO and is currently in “hibernation,” not competing in the league this year. Last month, the club successfully obtained a stay on liquidation orders to facilitate further mediation discussions with the ATO.
As the situation unfolds, Pendlebury’s case may reveal deeper financial issues within Sourasis’ operations, highlighting the complexities of investor relationships and the potential fallout from financial mismanagement.
