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In a significant transaction for Brisbane’s hospitality scene, a landmark pub has been acquired by a billionaire associated with the NRL for a staggering $50 million.
Nick Politis, chairman of the Sydney Roosters, has successfully purchased the renowned Caxton Hotel after conducting months of discreet negotiations with the previous proprietors.
This marks the first sale of the Petrie Terrace establishment in three decades, with the Farquhar family having managed the venue for over 20 years.
The Caxton Hotel holds a special place in Australia’s sports pub culture, celebrated for its close proximity to Suncorp Stadium, also known as Lang Park. With a history spanning over 150 years, it remains a favorite among sports enthusiasts.
Throughout the NRL season, Brisbane Broncos fans flock to the venue, and during State of Origin matches, the pub transforms into a vibrant hub for Queensland’s Maroon supporters.
An annual tradition for many years during the State of Origin has been the New South Wales Blues team bus driving down Caxton Street.
As the bus passed the Caxton Hotel full of Queensland fans, insults and sometimes beer cans were hurled at it.
It was a controversial decision, as then NSW coach Michael Maguire wanted to keep up with tradition, but it was backed by the ARL Peter Vlandys.
“I agree with Queensland police. The bus would end up with no wheels, windscreen wipers and there would be 14 Queenslanders on the roof,” he said at the time.
It is not known if Politis will make any major changes to the pub under his ownership.