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SBD Global/November 19, 2013/Franchises

A-League Club Melbourne Heart Rejects Takeover Bid From Chinese Businessman

A-League club Melbourne Heart "has rejected a multi-million dollar takeover bid from a Chinese businessman based in Shanghai," according to Matt Windley of the HERALD SUN. The A-League club's name, colors, staff and training base "would have stayed the same while home games would have continued to be played at AAMI Park, but Heart's major shareholders are committed to a long-term future in the game." The interested party made a bid of about A$9M ($8.5M) for a 100% stake. After making several failed takeover attempts in recent times, the businessman "will withdraw his interest." Heart CEO Scott Munn said Monday that the club "was not for sale and the board was 'not entertaining' offers from any Chinese consortium." This comes just months after Heart "knocked back three takeover bids from former National Soccer League powerhouse South Melbourne," the last of which, in August, was worth a reported A$7M (HERALD SUN, 11/18).
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