Brad Banducci's fortune turns around with $3.3million sale after stepping down as Ticketek CEO - two years after leaving Woolworths amid trainwreck interview

By NICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIA Published: 02:45, 21 June 2026 | Updated: 02:48, 21 June 2026 Former Woolworths CEO Brad Banducci has sold his investment property in one of Australia's wealthiest suburbs for $3.3million. Mr Banducci offloaded the two-bedroom, one-bathroom apartment in North Bondi, Sydney's eastern suburbs, on June 12. The apartment has uninterrupted views of Bondi Beach and the coastline heading to Maroubra.  Mr Banducci bought the property for $2.24million in 2019 and the price guide was listed for $2.75million before it sold for substantially more by private treaty, The Sydney Morning Herald reported. After accounting for stamp duty and selling costs, the sale is estimated to have delivered a pre-tax gain of around $850,000 to $900,000.  The sale marks a substantial windfall for Mr Banducci, who recently stepped down as CEO of Ticketek in May. It's the second time he's relinquished a top job, after calling it quits at Woolworths in 2024.  Mr Banducci announced his resignation at the supermarket giant following a Four Corners interview that sparked nationwide outrage over supermarket price hikes during the Covid pandemic.  Reporter Angus Grigg put it to Mr Banducci that Rod Sims, former head of the Australian Competition and Consumer Commission, had described Australia as having one of the most concentrated supermarket industries in the world. Former Woolworths CEO Brad Banducci has sold his investment property in one of Australia's wealthiest suburbs for $3.3million  Mr Banducci offloaded the two-bedroom, one bathroom apartment in North Bondi, Sydney's eastern suburbs, on June 12 Mr Banducci replied, 'that's not true' and attempted to argue the industry was in fact 'an incredibly competitive market'. He also pointed out that Mr Sims is 'retired'. When Grigg asked the Woolworths boss if he was 'impugning' Mr Sims' integrity, Mr Banducci asked: 'Can we take that out? Is that OK?' Grigg then said: 'We're on the record, you've said it. Let's just move on.' Seconds later, Mr Banducci said, 'I think I'm done guys,' and walked out of the room. The ABC aired the original footage anyway, cementing its place as a defining flashpoint in the debate over supermarket price gouging.  In April 2025, Mr Banducci became CEO of Ticketek Entertainment Group (TEG), but told staff in May this year he would step down.  His departure follows a difficult stretch for TEG, during which the business lost several high-profile contracts, shrinking its share of the ticketing market.  Mr Banducci bought the property for $2.24million in 2019 and the price guide was listed for $2.75million The North Bondi apartment (pictured) sold for $3.3million after being bought for $2.24million Among the biggest was a major deal with Venues NSW, reportedly worth about $100 million, which switched to rival Ticketmaster.  The contract covered some of Australia's most prominent venues, including the Sydney Cricket Ground, Accor Stadium, CommBank Stadium, Allianz Stadium, and the redeveloped Helloworld Stadium in Penrith. TEG also lost the Melbourne Park contract to AXS, which covers events at Rod Laver Arena, AAMI Park, John Cain Arena and Margaret Court Arena. These agreements represented a substantial portion of TEG's ticketing income. In a statement, Mr Banducci said he felt it was the appropriate time to hand over the reins. 'When I joined the group just over a year ago, I came in to do a specific role - to set the group up for the next horizon of growth,' he said. 'I feel the time is right to transition leadership of the group.' Just hours before his exit was announced, TEG struck a major naming-rights deal, Qudos Bank Arena in Sydney's Homebush will be rebranded Afterpay Arena.  As part of the deal, Square, owned by Afterpay parent Block, will provide the venue's payment terminals. The South African-born executive ended his Woolworths tenure after an appearance on Four Corners during the COVID-19 pandemic triggered backlash over supermarket pricing - an interview he conceded was not his 'finest moment'. TEG chief operating officer Cameron Hoy, who has been with Ticketek for two decades, stepped into the CEO role on June 1. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. 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