Who was Alan Bond? How Did Australian Businessman Alan Bond Die? – On September 6, 2022, Netflix released the new sports documentary “Untold: The Race of the Century.” It offers new perspectives on legendary stories from the vast world of sports and is a part of the critically acclaimed Untold series. Even though you think you’ve heard stories about football, basketball, streetball, and sailing before, they’re not the ones you’ve heard about.
Each episode, which makes its weekly debut, begins at a turning point before delving further into what actually occurred, as told by those who experienced it, to uncover the grit, perseverance, heartache, triumph, violence, comedy, and pathos hidden beneath the sweat. With a running time of roughly 1 hour and 23 minutes, this movie is the final installment in the series.
The film, which Chapman Way and Maclain Way directed, revisits 1983, when Australia won the America’s Cup, ending 132 years of American dominance and shattering the record for the most victories in a single season in contemporary sports. If you want to know who Alan Bond was and how he died, keep reading below.
Who Was Alan Bond?
Alan Bond was born in the Hammersmith neighborhood of London, England, on April 22, 1938. He was an Australian businessman with well-known, high-profile, and frequently dishonest business operations. These included his pivotal role in the 1980s WA Inc scandals, which led to the worst company collapse in Australian history, and his criminal conviction, which resulted in a four-year prison sentence. He is also renowned for providing the funding for the 1983 America’s Cup challenge, which was successful and resulted in first America’s Cup loss in the 132-year existence of the New York Yacht Club. In addition, he founded Bond University on Australia’s Gold Coast.
He was charged with attempted burglary in 1956 when police discovered him wandering the streets of Fremantle while wearing overalls from the State Electricity Commission and carrying tools.
He was one of WA’s biggest borrowers from financial institutions ready to lend to developers in the 1960s as a property developer in a growing market. These companies were oblivious to the valuations Bond assigned to his estates.
The Perth-based Bond was formerly one of Australia’s most well-known businessmen. He expanded his business interests outside of real estate development, including brewing (he was in control of Castlemaine Tooheys in Australia, which won the famous Castlemaine Tooheys Ltd v South Australia case on constitutional law), gold mining, television, and airships. The Bond Corporation established Australia’s first private university, Bond University, in 1987. He bought QTQ-9 Brisbane and paid A$400,000 to resolve a slander lawsuit the station had against Queensland Premier Joh Bjelke-Petersen.
Bond gained popularity in his new nation when he supported America’s Cup challenges and was named 1978 Australian of the Year (awarded jointly with Galarrwuy Yunupingu). His Australia II syndicate broke the longest winning streak in sporting history in 1983 when they won the America’s Cup, which the New York Yacht Club had held since 1851. Due to that victory, which is primarily recognized as one of Australia’s most significant international athletic triumphs, Bond was awarded the Order of Australia in the grade of Officer.
Why Did Alan Bond Go to Prison?
After failing to return a $194 million personal guarantee on loan for a nickel mining project in 1992, Bond was declared bankrupt. It was believed that he owed $1.8 billion in debt at the time. He pretended to have a brain injury to avoid answering questions during bankruptcy trials, but he felt no reason to maintain this pretense afterward. He had to sell England’s, Glympton Park.
His family purchased him from bankruptcy in 1995 after the creditors accepted a price of A$12 million or more than 0.5 cents on the dollar.
Bond was sentenced to seven years in jail in 1997 after pleading guilty to leveraging his ownership of Bell Resources to fraudulently transfer A$1.2 billion into the Bond Corporation’s coffers. The money was used to support the struggling Bond Corporation’s cash resources, but once it dramatically collapsed, Bell Resources found itself in a precarious and uncertain situation. His 1984 distinction as an Officer of the Order of Australia was revoked.
Bond served four years in various Western Australian prisons before being freed from Karnet Prison Farm in 2000.
After his release, he got involved in several mining ventures, mainly in Africa, like Madagascar Oil PLC and Global Diamond Resources in Lesotho. In 2008, he was named to Business Review Weekly’s “Rich 200 List.”
Bond was admitted to the America’s Cup Hall of Fame in 2003. Bond had been collaborating closely through Strategic Investments Ltd. since 2003 with his son Craig and old business partner Robert Quinn.
How Did Alan Bond Die?
Bond underwent open-heart surgery on June 2, 2015, to replace and repair his heart valves at a private hospital in Perth. He was transported to Fiona Stanley Hospital in Perth after problems, where he was put into an induced coma and put on life support. He passed away early on June 5, 2015.
He was buried at the Fremantle Cemetery in Melville City, Western Australia. He is survived by the kids he had with his first wife, Eileen Hughes: John, Craig, and Jody.
A fictionalized account of Bond’s life can be seen in the 2017 Australian TV miniseries House of Bond. Ben Mingay played the part of James Bond.