Consortium Including Billy Beane To Buy 98.5% Stake In Barnsley

A consortium that includes American sports exec Billy Beane is on the verge of purchasing a 98.5% stake in League Championship side Barnsley. The group is led by Chinese-American investor Chien Lee and U.S. businessman Paul Conway. Beane is a minority owner of the MLB Oakland Athletics. Lee, who is the founder and chair of NewCity Capital, already owns a 40% stake in Ligue 1 club Nice, while Conway owns 20% of the French club. The deal is currently being reviewed by the English Football League and is expected to be completed next week. The group will acquire Patrick Cryne's shares. Cryne is suffering from terminal bowel cancer, and this week penned a letter to the club's fans saying that he is on borrowed time and does not expect to live through the season. The deal was brokered by Blackbridge Cross Borders, whose chair, Alexander Jarvis, said, "This investment will put Barnsley on the map globally. A fitting legacy to Patrick Cryne and his family's support and hard work in building the club."