The Western Sydney Wanderers have been sold to a consortium lead by Primo Smallgoods owner Paul Lederer, Pirtek founder Peter Duncan, Jefferson Cheng and an un-named fourth party. The new ownership will take over at the start of the new financial year.
The sale has been under negotiations for months finally cleared the final hurdle and will be completed on the 30th of June 2014.
Three of the new owners all have a measure of existing input and connection to the Wanderers. Lederer is an existing member of the Wanderers boardroom, Duncan's company Pirtek recently purchased the naming rights for Parramatta Stadium, and Cheng is a director of the International Strikers & Goalkeeper academies, who are high level corporate partners for the Wanderers in this current season.
The FFA began the process of selling the club in June 2013, by appointing UBS to managed the sale of the club. Negotiations were hard fought, with the consortium sticking to their guns on the length of the license (clubs licenses in the A-League are not perpetual and must be renewed) and a reduction in sale price from the FFA's preferred mark of $15 million down to a figure less than $12 million.
With the club tipped to come close to a break-even or even a profit this season, it is unlikely the new owners will have to do much if any cost-cutting should they want to achieve a profit in their first season of ownership.
Executive Chairman Lyall Gorman is rumoured to be leaving the club to take over Melbourne Victory at the end of the season and may need to be replaced. Assistant Manager Ante Milicic is another member of the current staff who is confirmed to be leaving, with ex-Sydney FC manager Ian Crook rumoured to have agreed to take on the role next season.
The new owners will have roughly a month to come to grips with their new ownership before the pre-season starts in earnest. As yet no information on any future investment or any plans the consortium have for the club has come to light.