NSW billionaire buys Brisbane's most famous pub for $50 million

One of Brisbane's most iconic pubs has been bought by a billionaire NRL boss for $50 million.

Sydney Roosters chairman Nick Politis has officially taken ownership of the famous Caxton Hotel pub after months of secret negotiations with the owners.

It's the first time the pub in Petrie Terrace has been sold for 30 years., having been operated by the Farquhar family for over two decades.

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The Caxton Hotel is one of the most well-known sports pubs in Australia, primarily due to its proximity to Suncorp Stadium or Lang Park, and has been open for more than 150 years.

Brisbane Broncos fans gather there each week during the NRL season, and the pub becomes a sea of Maroon during State of Origin time when New South Wales and Queensland face off.

An annual tradition for many years during the State of Origin has been the New South Wales Blues team bus driving down Caxton Street.

As the bus passed the Caxton Hotel full of Queensland fans, insults and sometimes beer cans were hurled at it.

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However, this was blocked by Queensland Police last year on the grounds of safety.

It was a controversial decision, as then NSW coach Michael Maguire wanted to keep up with tradition, but it was backed by the ARL Peter Vlandys.

"I agree with Queensland police. The bus would end up with no wheels, windscreen wipers and there would be 14 Queenslanders on the roof," he said at the time.

It is not known if Politis will make any major changes to the pub under his ownership.

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