Newcastle are about to come off Football Federation Australia’s books, with the A-League club’s long-anticipated sale to millionaire Chinese businessman Martin Lee set to be announced on Tuesday.
Former Central Coast coach Lawrie McKinna, the Gosford mayor, is poised to be named as new Jets CEO, taking over from interim CEO David Eland.
Lee’s Ledman Group, a major LED lighting manufacturer, has been in negotiations with FFA for months and spent recent weeks conducting due diligence.
The sale, understood to be worth more than $5 million, marks the first major Chinese investment in the A-League.
Ledman already has an extensive football investment portfolio as owner of Chinese lower-tier club Shenzhen Renren FC, sponsor of the Chinese Super League and naming-rights sponsor for Portugal’s second division.
From FFA’s perspective, it makes Lee a reliable choice to grow the Hunter franchise it rescued from ruin a year ago.
The governing body has spent millions keeping the Jets afloat since last May, when it stripped former owner Nathan Tinkler of his A-League licence after he placed the club into administration.
The sale also comes at a welcome time for FFA as it again deals with financial insecurity around Brisbane Roar.
The Jets have numerous vacancies remaining on their roster, including two visa spots, with the club and coach Scott Miller opting to wait for input from a new owner before filling them.
Midfielder
Guest
I think its great News LM is a Football person and a reasonably smart operator, he played in the NSL, was an assistant coach in the NSL, a coach in the NSL [won coach of the year, was a coach in the A-League [won coach of the year], has been a coach in China, at one stage was a senior manager at the Mariners... he has lots of experience with local government from being a mayor... Excellence choice for a team like Newcastle as a CEO a very much hands on type and brilliant with fans... Newcastle is one of the few heartland areas in Australia for Football... locals support the Jets as much as the Knights... local media TV, radio, print have always given lots of support... IMO the Jets are a brilliant club to get they will average over 10 K, they understand Football ... sad in many ways that football folk in other areas have never acknowledged the level of Football understanding in Newcastle they write them off as ANGLOs and Rugby League and Union .. when in actual fact the codes get on well and they understand each others game... I am starting to feel really good as two of our foundation clubs that survived from the NSL thu to Hal are looking the goods again... Love what happening over in the west ... and now the Jets getting strong ... great news.. As for my Mariners ... I am worried had no news for a while, Fraudsmley [coach] is over in the UK learning and looking at players... This could be another thin year as Punter told me the other day ... thick and thin years... and I hope not but we could struggle again...
Arnold Krewanty
Guest
That's what we need - some overwhelming positivity!! The Ledman group look a little more less dependent on a turbulent minerals industry than the Barkies.
Mister Football
Roar Guru
Good news for all Newcastle soccer fans - one of the oldest soccer playing regions in all of Australia.
Mister Football
Roar Guru
I think it was a Freudian slip - Mariners likely to be the next cab off the rank (after the Roar).
MatthewSkellett
Guest
Well well well Mr McKenna once more at the helm of a football club eh? Well I wish him all the best - he certainly can't do any worse than previous owners and I'm sure he'll do a lot better -maybe so much so that CCM will beg to have him back .What do you have to say about this new development Middy ? ;-)
AR
Guest
"One thing is for certain: there is no stopping them; the Chinese will soon be here. And I for one welcome our new Chinese overlords. I’d like to remind them that as a trusted internet forum user, I can be helpful in rounding up others to toil in their underground coal mines."
Peter Cotton
Guest
The Ledman Group appear to have a similar pedigree to that of The Bakrie Group. Hopefully LED lighting is a more reliable income source than iron ore and coal.
jamesb
Guest
You mean the Jets.
Lionheart
Guest
Good news for the Mariners, let's hop. I would like to see some Chinese players in the A League, to help attract some Chinese supporters, of whom there are many. I hope FFA learnt something from this, about what it means to be an owner.