Kyle Sandilands revealed his worst ever investment on The Kyle and Jackie O Show on Friday morning.
The 52-year-old shock jock admitted to his co-host Jackie O Henderson he had lost a lot of money over the years ‘investing in things that didn’t quite pay out.’
When asked by a producer what his worst ever investment was, Kyle replied: ‘I never saw a cent and I never heard from this person again…I invested in a beer pong table company but it was only about $60,000.’
‘They were going to produce all these beer pong tables. I was high when I took the meeting. And I was so into it. I was like “I’ve never played, it looks amazing!”‘ he added.
Beer pong is a drinking game that is particularly popular in the US, involving two teams, each with cups arranged in a triangular formation at opposite ends of a long table.
Kyle Sandilands (pictured) has revealed his worst ever investment after signing historic $200m radio deal
Players take turns throwing a ping pong ball across the table, aiming to land it in one of the opposing team’s cups filled partially with beer.
After searching images of beer pong tables, co-host Jackie joked it would be ironic if the entrepreneur who took Kyle’s money was now a beer pong table mogul.
It comes after Kyle and Jackie O recently confirmed their historic new radio deal which will see them expand to Melbourne.
Last week, the Sydney-based radio duo signed a record-breaking $200million, 10-year deal live on-air – keeping them on the airwaves until 2034.
When asked by a producer what his worst ever investment was, Kyle replied: ‘I never saw a cent and I never heard from this person again…I invested in a beer pong table company but it was only about $60,000’
‘They were going to produce all these beer pong tables. I was high when I took the meeting. And I was so into it. I was like “I’ve never played, it looks amazing!”‘ he added
A spokesperson for ARN confirmed to Daily Mail Australia the deal means Kyle and Jackie’s KIIS FM work pals Jase Hawkins and Lauren Phillips will be out of a job and their Melbourne breakfast show will be finishing up in December.
Lauren broke down in tears while announcing the news to her listeners on Wednesday, sobbing that she didn’t want to ‘say goodbye to Melbourne’.
Jase and Lauren’s show was successful for KIIS FM, bringing in new listeners for the station and sitting third in the Melbourne market behind Fox FM’s Fifi Fev & Nick and GOLD104.3’s Christian O’Connell.
The drinking game is particularly popular in the US, involving two teams, each with cups arranged in a triangular formation at opposite ends of a long table. Players take turns throwing a ping pong ball across the table, aiming to land it in one of the opposing team’s cups
In a statement to celebrate the historic contract renewal, Kyle said: ‘Fans of the show will be stoked to hear that this 10-year deal is the longest radio deal in Australian history.
‘Love us or loathe us, Jackie and I will be continuing with our politically incorrect nonsense for a long, long time.’
He added: ‘We want to thank the listeners. Staff. All the clients. Even senior management, I’ll give a nod to. They actually did something brilliant.’
According to the Financial Review, Kyle and Jackie’s contracts, ‘include a base salary, a percentage share of revenue above what is now earned – known as “incremental growth”, and sign-on bonuses mainly made up of shares in ARN.’
ARN chief executive Ciaran Davis said expanding Kyle and Jackie’s show to Melbourne will ‘attract new audiences and expand commercial opportunities’.
‘Melbourne is the largest radio advertising market in Australia and represents an opportunity for ARN Media to grow ratings and revenues on KIIS 101.1,’ he said.
‘Kyle and Jackie O have evolved into a powerful brand that significantly contributes to ARN’s commercial success, and this new agreement strategically positions us for long-term growth that extends beyond radio.’
It comes after Kyle and Jackie O recently confirmed their historic new radio deal which will see them expand to Melbourne
