Warriors co-owner sets up grassroots trust

Sir Owen Glenn's half-share in the Warriors rugby league franchise has been transferred to set up a grass roots charitable trust.

Sir Owen Glenn has transferred his half-share in the Warriors to a charitable trust for the development of rugby league at grass-roots level.

Glenn has been in dispute with co-owner and fellow multi-millionaire Eric Watson, and had taken legal action to recover the $6 million he invested to secure his stake in the NRL club.

Rather than continue the legal action, Glenn says he's opting to transfer his shareholding to the newly formed Sir Owen Glenn Warriors Trust.