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FFA sells A-League club Western Sydney Wanderers

Published on NewsOK Modified: May 28, 2014 at 9:27 pm •  Published: May 28, 2014
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SYDNEY (AP) — Football Federation Australia has sold A-League club Western Sydney Wanderers to a consortium headed by a local businessman.

Sydney-based Paul Lederer will lead the group that takes ownership of the license on June 30.

Philippines-based Jefferson Cheng and David Slade, a partner in British fashion outlet Topshop Topman, are among the other investors.

Local media on Thursday reported the sale to be worth around $10 million. The FFA did not disclose financial details of the sale.

The FFA, aided by government funding, set up the Wanderers in 2012 and has held the license for two years.

The club has had immediate success under coach Tony Popovic, who has guided the team to consecutive A-League grand finals and this year's Asian Champions League quarterfinals.