Football Federation Australia will start the next financial year banking a multi-million-dollar windfall, with the sale of Western Sydney Wanderers set to be formally announced on June 30. The long-awaited deal will see ownership of the club pass to a consortium chaired by Primo Smallgoods businessman Paul Lederer, who has become increasingly involved in the running of the club already as an existing director. Sources close to the deal insist it is for less than the $12 million figure reported widely, but it will still represent a substantial windfall for the governing body after the club was created by a $5 million government grant less than two years ago. Lederer will be joined by Pirtek founder Peter Duncan, Filipino-Chinese businessman Jefferson Cheng and a fourth investor whose identity has not yet been divulged. One of their prerequisites was a long-term licence, a hurdle that was removed when FFA’s board agreed last month to give each club a 20-year licence in the A-League. Though that FFA board meeting had also been expected to give the sale the green light, it’s believed the deal had been held up in recent weeks by the consortium performing final due diligence on Western Sydney’s accounts. All of those checks have now been completed, and the change of ownership will take effect when the new financial year starts on July 1. But Lederer, whose wealth is estimated at $630 million, is likely to be consulted on new player signings in the interim, with a number of players’ futures up in the air. The sale will follow the $11 million purchase of Melbourne Heart by Manchester City in January, and comes with the Wanderers expected to come close to breaking even this season. Meanwhile, Wanderers coach Tony Popovic has moved to bolster his playing stocks by giving defender Daniel Mullen an injury replacement contract in light of Golgol Mebrahtu’s season-ending knee injury. Mullen had already joined the club on a two-year deal, though initially only for its Asian Champions League campaign, but has been added to the A-League roster because Tahj Minniecon is out for an extended period with an ankle injury. Mebrahtu was the original injury replacement for Minniecon but ruptured ligaments in his knee moments into his debut and faces a full year on the sidelines. Mullen’s addition further clouds the future of Jerome Polenz, Western Sydney’s highly regarded right-back who has not yet been able to agree to terms for next season. Wanderers fullback Adam D’Apuzzo won’t face any sanction for a collision with Adelaide winger Fabio Ferreira in Saturday’s 0-0 draw.
Posted on: Mon, 17 Mar 2014 12:24:20 +0000
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