The tennis champ turned Melbourne Football Club chief executive is believed to have forked out $6 million for a Glenferrie Road mansion, known locally as the Pink House.
Mr McNamee’s five-bedroom Federation home has an established garden, swimming pool, tennis court and triple garage and was, until recently, painted bright pink.
Sources say Mr McNamee and his wife, Lesley, admired the house when it was owned by friends years earlier, but a sale campaign at the peak of the market last September saw it sold before they could formulate an offer.
The registered buyers, Cisco executive Terry Alberstein and partner Penelope Roberts, had barely settled on the property when he was relocated to the United States for work. The mansion, which had since been repainted a more conservative hue, was put to the market earlier this year.