Chinese flex financial muscle with Barnsley takeover

LONDON • A consortium led by Chinese investor Lee Chien and including baseball statistics pioneer Billy Beane has taken over Barnsley, the English second-tier club announced on Tuesday.

American investors Paul Conway and Grace Hung are also investing in the Championship club.

Barnsley's new patrons take over from their longstanding owner Patrick Cryne, who in September revealed he had terminal cancer.

"The club have gained English Football League approval for the change in majority shareholder and our new shareholders have now taken up their positions on the board of Barnsley Football Club," Barnsley said in a statement.

Beane found fame by using statistical analysis to find undervalued talent - a practice known as "sabermetrics" - as general manager of Major League Baseball team the Oakland A's.

His story was told in the 2011 film "Moneyball" starring Brad Pitt.

Lee, founder and chairman of investment firm NewCity Capital, bought 80 per cent of French club Nice last year.

  • 4 English Championship teams with Chinese owners.

He sits on the board at the Ligue 1 side alongside Conway, who leads Pacific Media Group along with Hung.

Lee and Conway will become co-chairmen at Barnsley, who spent one season in the Premier League in 1997-98 and currently sit 20th in England's 24-team Championship.

"Similar to our investment in OGC Nice, we expect to further enhance the academy, playing squad, commercial operations and fan experience of Barnsley Football Club," Conway said.

"Barnsley has some of the most passionate fans in England and we look forward to meeting many of its supporters in the upcoming weeks."

Barnsley are the fourth Championship team to fall under Chinese control after the Midlands trio of Aston Villa, Birmingham City and league leaders Wolverhampton.

In the Premier League, Southampton and West Brom - another club from the Midlands - are Chinese-owned, while Chinese consortium CMC Capital owns a 13 per cent stake in runaway leaders Manchester City.

AGENCE FRANCE-PRESSE

A version of this article appeared in the print edition of The Straits Times on December 21, 2017, with the headline 'Chinese flex financial muscle with Barnsley takeover'. Print Edition | Subscribe