Consortium Of Chinese Owners To Acquire A-League Side Newcastle Jets

A A$5M ($3.7M) "hole in the balance sheet of Football Federation Australia" will be filled on Monday when the sale of A-League side Newcastle Jets "is confirmed to a consortium of Chinese owners," according to Tom Smithies of the Sydney DAILY TELEGRAPH. The "long-awaited sale," which for the first time welcomes Chinese investment into the A-League, "removes a major financial headache from FFA, as uncertainty continues to surround the financial security of the Brisbane Roar." It is believed FFA "will formally announce the sale on Tuesday" to the new owner, Ledman Optoelectronics President & CEO Martin Lee. Former Central Coast Mariners coach and Gosford Mayor Lawrie McKinna is set to be confirmed as the club’s new CEO. The new owners "are believed to have been brought to the table through McKinna’s contacts in China" and have been attracted by Newcastle’s history as a "strong regional base" in Australian football (DAILY TELEGRAPH, 6/12).