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Football: Australia to sell A-League club for $11.5m to consortium

Published on Mar 18, 2014 5:28 PM
 
Labinot Haliti (left) of Australia's Western Sydney Wanderers tussles for the ball against Yang Hao of China's Guizhou Renhe during their AFC Champions League group H first round match at the Guiyang Olympic Centre Stadium, in Guiyang, Guizhou province on March 12, 2014. 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, March 18, 2014. -- PHOTO: AFP

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."