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China's Ledman Group To Take Ownership Of A-League Side Newcastle Jets

Football Federation Australia said on Tuesday that China’s Ledman Group purchased A-League club Newcastle Jets, according to REUTERS. The Shenzhen-based optoelectronics company, which is already a sponsor of the Chinese Super League and owns the naming rights to the Portuguese second division, "will take ownership of the club at the end of the month." Media reports in Australia said that the purchase of the club cost Ledman and its major shareholder, Martin Lee, around A$5M ($3.68M). Lee: "The investment aligns with Ledman’s activities in several sectors of the sports industry and I’m excited by the potential of the club." Newcastle Jets were taken over by FFA last year after mining magnate Nathan Tinkler had his license revoked "when he put the club into voluntary administration" (REUTERS, 6/14).

OFF TO CHINA: ABC's Carly Cook reported Lee said that plans "were already in place for the Newcastle Jets to play in China in August this year." He said that the short-term goal was for the club to qualify for the Asian Champions League "within three years." FFA CEO David Gallop said that he "did not expect any surprises from the deal and said an enormous amount of work had been done to get to this stage." Lee said that he intended to "work closely with the club's key stakeholders." He said, "Most of all, I understand that the Newcastle Jets are a very important part of the Newcastle community." Ledman has appointed former Central Coast Mariners head coach Lawrie McKinna as the Newcastle Jets' new CEO. McKinna will replace current Newcastle Jets interim CEO David Eland when the ownership formally changes hands (ABC, 6/13). IANS reported Lee is expected to "travel to Newcastle every two months and will have his local management team oversee and run the Jets." Jets coach Scott Miller has several roster spots remaining, including two visa openings, "but is said to be waiting for inputs from a new owner before filling them" (IANS, 6/14).

BABY STEPS: In Sydney, Ray Gatt reported "it will be a case of small steps" for Lee. Although "he is a man used to success, Lee is prepared to bide his time with the Jets," suggesting he hopes to see the club secure a spot in the Asian Champions League within three years. He said that he believed the club, "which has always struggled financially, could break even within two years." McKinna said that his first priority was to "re-engage with the fans." He said, "They want answers, they want encouragement and belief. They want an owner who cares, and they are certainly getting that with Martin" (THE AUSTRALIAN, 6/15).

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