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The Penn Family announced today that they had agreed to terms with the Quantum Group to buy their stake in the Sea Eagles effective immediately.

Scott Penn said:

“We want to thank The Quantum Group for their contribution to the Sea Eagles over the past three years and their major sponsorship prior to that.”

“We acknowledge that the past couple of years off the field have been difficult, however we are committed to ensuring the Sea Eagles are a world‐class organisation under consolidated ownership.

“There are a number of exciting initiatives which we will be announcing over the coming weeks to ensure our members are as excited as we are about 2015.”