Friends rally around Pendlebury as more complaints about manager emerge

Friends and fellow investors are rallying around star Magpie Scott Pendlebury after he claimed his former manager Jason Sourasis had misappropriated his money, while other high-profile investors line up to stake a claim over their own missing money.

Pendlebury spent Tuesday speaking to friends and Sourasis’ other investors after taking court action to recoup $3 million he alleges was misappropriated from his bank account by Sourasis and his company Strategic Financial Planning or borrowed from him by the soccer entrepreneur.

Sourasis has hit back at the court case being led by powerhouse lawyer Leon Zwier, saying: “The allegations are vehemently denied, and as a legal process has been started, we can’t make any further comment at this stage.”

According to sources who spoke on the condition of anonymity, there are growing concerns that Pendlebury’s claim is the “tip of a very big iceberg” of financial troubles for Sourasis.

Two of those sources suggested another former AFL player had also invested a significant amount of money – as much as $1 million – in Sourasis’ Western Melbourne Group, which is behind an ambitious plan to develop a sporting and entertainment complex in Tarneit.

That development has been in peril after the tax and financial troubles of Sourasis’ now-dormant A-League team, Western United, became public.

Sourasis’ personal tax bill has also ballooned in recent weeks to $6.7 million, up from $3 million, according to new filings by the ATO in the County Court.

Leading financier Ozzie Kheir, the owner of 2021 Melbourne Cup winner Verry Elleegant, claimed he was owed “a substantial amount of money” by Sourasis over a business deal gone sour. That deal is related to Kheir’s involvement in a property development several years ago with Sourasis.

“Jason owes me a substantial amount of money, and that money has been owed for many years and remains outstanding. I expected to be paid once he completed the Western Melbourne Group development,” said Kheir, who has a runner in this year’s Melbourne Cup as well as the Cox Plate.

“I haven’t yet started any legal proceedings to seek the return of the funds only because I hoped the project would be completed, but that now seems to be unlikely and I will look at my options.”

Sourasis declined to comment in response to Kheir’s statements.

A who’s who of sporting stars are also invested in the Western Melbourne Group project alongside Pendlebury and the other player, including former Sydney Swans two-time Brownlow medallist Adam Goodes and fellow AFL players Dyson Heppell, Jy Simpkin, Josh Battle and Mason Wood. Tennis star Thanasi Kokkinakis is also an investor, as is former NBA player Dante Exum.

The Western Melbourne Group project is made up of several companies including the Sayers Road Trust, which has the largest number of investors and was the entity that received most of Pendlebury’s allegedly misappropriated funds.

Sourasis and Pendlebury were particularly tight, according to several sources, who all asked to speak anonymously to protect their legal and business interests.

The pair had holidayed together, and their families were also close.

Sourasis and Pendlebury’s relationship dates back to 2015, through Hemisphere Talent Management, and the pair became so friendly that by 2018 they had collaborated on a wine, The Pendlebury.

Sourasis went on to make wines themed around another Collingwood star, Darcy Moore, and Carlton’s Patrick Cripps.

In January, Western United announced a new wine collaboration between Pendlebury, Sourasis and international soccer coach Jose Mourinho called The Special One.

On top of the wine business, Sourasis and Pendlebury had co-invested in a cafe in Brunswick, Albert Street Food & Wine, which has since closed.

Pendlebury had been devastated by the breakdown in their relationship and the need to take legal actions after years of friendship, sources said.

Sourasis told this masthead on Tuesday that he was shocked on a personal level about the allegations made by Pendlebury.

“I am devastated about the breakdown of my relationship with Scott,” he said.

The cafe is not the only business of Sourasis’ that is in liquidation or facing financial issues.

Also in October, an arm of Sourasis’ financial planning business – Strategic Financial Group Australia, which handled staff pay and some other activities at the group – was placed into liquidation over unpaid tax debts.

According to documents filed by the liquidator with the corporate watchdog, that company owes staff $123,000 in unpaid entitlements.

Strategic Financial Planning continues as a going concern and continues to hold a financial services licence, according to ASIC’s records.

A third company, known as The Township, was also placed into liquidation over unpaid tax debts.

Western United, which is to be the anchor tenant at the proposed stadium in Tarneit, has so far avoided being formally placed into liquidation after racking up nearly $8 million in debt to the Tax Office.

The club, where Sourasis is executive chairman, has been placed into “hibernation” and will not compete in the A-League this year as it fights to stay afloat.

Last month, it won a stay on orders from the Federal Court appointing liquidators, to allow it
to have further mediation talks with the ATO.

Start the day with a summary of the day’s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter.