Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
A Chinese businessman has emerged as the most likely candidate to take over the Australian A-League side Newcastle Jets.
According to the Australian newspaper, the Newcastle Herald, the Chinese millionaire met with the Football Federation of Australia (FFA) and inspected facilities at the Hunter Stadium and the Jets’ training base at Ray Watt Oval two weeks ago.
The investor is now awaiting a detailed prospectus, outlining the club’s financial position and the commercial model of the A-League.
The potential buyer, who is understood to have made his fortune in lighting and electronics, owns a lower-division football club in China and is keen to expand his football interests in the A-League.
“He is part of a community of businessmen who are being encouraged by the Chinese government to invest in football teams,” a Herald source said.
“He and an assistant were out here a fortnight ago. They met with representatives from the FFA, visited Newcastle, walked through the stadium and inspected other facilities.”
The FFA assumed ownership of the Jets in May after revoking the licence of owner Nathan Tinkler, who had placed the club into voluntary administration.
FFA CEO, David Gallop, confirmed last week that there had been strong interest from parties in Asia and Europe and he was optimistic of a sale before the start of next season.
Source: Newcastle Herald
Proofread by John Devlin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
Steph Curry to grow personal brand in China
29 Aug 2016
Le Sports hails RMB 1.2 bn investment
16 Mar 2016
The behind-the-scenes story of Suning’s Inter Milan deal
20 Jun 2016
Chinese, U.S. investors buy 80 % share in OGC Nice
12 Jun 2016
06 Apr 2016
More from Yutang Sports
SportAccord 2024 - combating online abuse ‘chance for sport to show its power’
22 Mar 2024
SportAccord’s conversation with FEI President Ingmar De Vos: Equestrian sport’s road to Versailles
22 Apr 2024
Birmingham Welcomes the World as SportAccord 2024 Kicks Off
08 Apr 2024
Leading sports charity, Podium Analytics, announces Trusted Research Environment for Global Sport
11 Apr 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
Yutang Sports
loading...