Football: Australia to sell A-League club for $11.5m to consortium
Published on Mar 18, 2014 5:28 PM
MELBOURNE (REUTERS) - The sale of A-League club Western Sydney Wanderers should reap Australian football about A$10 million (S$11.5 million), the country's football boss Frank Lowy said on Tuesday.
Ownership of the club, runners-up in the top-flight domestic competition in their maiden season last year, will pass to a consortium of businessmen from Football Federation Australia (FFA), which started up the expansion club nearly two years ago with the help of A$4 million of government funding.
"I think we'll get around A$10 million or so (for the sale)," FFA chief Lowy told reporters in Sydney on Tuesday.
"I don't dare to tell you (the expected surplus). We don't have the final result and I don't like to talk before then, but we'll be sharing some of the surplus with the clubs."