FFA Confirms Western Sydney Wanderers Sale
By Community | May 29, 2014
A-League team Western Sydney Wanderers have been sold to a consortium of prominent businessmen, Football Federation Australia have confirmed.
The group, headed by Primo Smallgoods boss Paul Lederer, will assume ownership of the licence on June 30.
Pirtek founder Glenn Duncan, Filipino-Chinese businessman Jefferson Cheng and David Slade, a partner in British fashion outlet Topshop-Topman, are among the other investors.
The deal is believed to be worth around AUS$10 million (US$9,287,471 m).
The FFA, with the help of $4 million in federal government funding, set up the Wanderers in April 2012 and has held the licence for the past two years.
The club has enjoyed immense success since then under coach Tony Popovic, who has led the fledgling outfit to two consecutive A-League grand finals and this year’s Asian Champions League quarter-finals.
FFA boss David Gallop said the sale was an important step in the club’s evolution.
“The Wanderers were built for the people, by the people of Western Sydney,” Gallop said in a statement on Thursday.
“That was the promise from day one and FFA has held true to that mission.
“Like FFA before it, the new consortium understands its role as the guardians of the Wanderers.
“They are entrusted by the members of the club to protect and build on what has been achieved.”
Lederer ensured fans the spirit and culture at the Wanderers would not be affected by the sale.
“I have been a director of the club for the past two years and I’ve had the privilege to play a part and see first-hand what makes this club so special,” he said.
“The consortium has responsibility to ensure the Wanderers have a sound financial base and a strong administration so the club can continue to grow and be successful on and off the field.”