June 13 – China’s football investment is becoming a global phenomenon with the Ledman Group joining the consortium of investors that has bought Australian A-League club Newcastle Jets from the Football Federation Australia (FFA) for $3.7 million.
Newcastle Jets were taken over by the FFA last year after mining magnate Nathan Tinkler put the club into voluntary administration and had his license revoked.
The new ownership group is led by businessman Michael Lee who said: “We see a bright future for football across Asia and the Hyundai A-League is at the forefront as one of the top professional leagues in the region.”
Ledman is no stranger to investing in football. It was part of the consortium that acquired Swiss sports marketing agency Infront Sports and Media, though investing only €25 million in that acquisition.
It is also a sponsor of the Chinese Super League and Portuguese second division, Ledman LigaPro.
As part of the Portuguese deal there was a clause that stipulated 10 Chinese players had to be in the starting line-ups of the top teams. The Portuguese players union complained about the arrangement which in practice has now been dropped.
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