Broncos bring in Australian firm to revive club
Leeds chief executive Gary Hetherington, who is stepping down from the Rhinos at the end of this season, is currently advising the Championship club.
The Broncos will remain based at AFC Wimbledon's ground and will also re-establish an academy as part of a five-year plan to "rebrand" the club.
The club lost their Super League status at the end of 2024 because of a new grading system and, in September, owner David Hughes put the club up for sale after 27 years.
"Rugby league is at a significant moment both nationally and globally, and London needs to be a part of that," said Hetherington at an event at Australia House in London.
"Stephen Smith, Australia's high commissioner to the United Kingdom, and his team recognise the importance of rugby league in terms of our links to Australia and the wider South Pacific.
"And in a year when we will see the return of the Rugby League Ashes for the first time since 2003, with the first Test at Wembley on 25 October, this is the perfect time to consider how best to maximise that potential."
Freshwater Strategy is a sports advisory firm and their involvement aims to turn London Broncos into a "world-class franchise under new ownership", a statement said.
Broncos finished second in Super League during owner Hughes' first year at the club in 1997 and also reached the Challenge Cup final in 1999.
"Freshwater's partnership with London Rugby is focused on growing sponsors and investment underpinned by NRL [National Rugby League] partnerships and an exciting and contemporary club rebrand," Freshwater director Jonathon Flegg said.
"Our aspiration is to help catapult the club back into the Super League, with the strongest brand, membership, merchandise, venue, sponsorships, governance and on-field competitiveness."
Broncos currently sit second bottom of the Championship, with just two wins from nine league games played this season.
"There is an obvious requirement to strengthen the team for 2025 which is currently active and ongoing," said director of rugby and performance Mike Eccles.
"However, it is our ambition to ensure we build not only a competitive squad for the present, but also a squad that is built largely on homegrown talent for sustained and lasting success for the future."
Matt Newsum, BBC Sport rugby league reporter
While this isn't the Broncos' first rodeo in terms of new ownership and grand plans, the identity of those involved in this venture definitely brings with it some credibility and the hope that this won't be just another dawn of disappointment.
Gary Hetherington built Sheffield Eagles up from scratch and turned Leeds into one of the most respected rugby league clubs in the world, so he's experienced life at both ends and his expertise will be invaluable.
The call to restore the academy is a key factor as it plays into the hands of a club which has thrived on producing players, and has a huge catchment area of athletic talent to draw upon across the city if they get their development strategy right.
Freshwater's involvement highlights both the interest in and lure of London from the Australian perspective, and with the National Rugby League reportedly keen on investment in the league as a whole, a thriving Broncos is seen as key to both their and strategic partner IMG's hopes for the game.
Having a stable base in Wimbledon might also be helpful, as the Broncos' nomadic status has perhaps been an issue in them laying down roots and establishing a fanbase.
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