Consortium buys A-League`s Sydney Wanderers

AFP| Updated: May 29, 2014, 09:39 AM IST

Sydney: Football Federation Australia Thursday said it has sold A-League club Western Sydney Wanderers to a consortium, including British fashion retailer Topshop-Topman.

The group, headed by Primo Smallgoods boss Paul Lederer, will assume ownership of the licence on June 30, the FFA said.

David Slade, a partner in Topshop-Topman, and Filipino-Chinese businessman Jefferson Cheng are among the other investors.

The deal is believed to be worth around Aus$10 million ($9.2 million), reports said.

The FFA established the Wanderers in April 2012 and since then has held the club`s licence.

The Wanderers have been successful under coach Tony Popovic, who has led the club to two consecutive A-League grand finals and this year`s AFC Champions League quarter-finals.

FFA chief executive David Gallop said the sale was an important step in the club`s evolution.

"The Wanderers were built for the people, by the people of Western Sydney," Gallop said in a statement.

"That was the promise from day one and FFA has held true to that mission."