Adelaide United sale to Chinese investors takes major step closer to be finalised

THE sale of Adelaide United to Chinese investors is tipped to take a major step closer to being finalised this week.

THE sale of Adelaide United to Chinese investors is tipped to take a major step closer to being finalised this week.

It’s understood the current Adelaide consortium, including 30 per cent equal shareholders Robert Gerard and chairman Greg Griffin, and 20 per cent stakeholders Bruno Marveggio and Dr Richard Noble, have signed a pre-sale agreement to sell United to the consortium.

“Tomorrow is an important day in the transaction,” Griffin said.

Sources have claimed the Chinese consortium have agreed to deposit about $15 million in Adelaide United’s bank account on Wednesday as part of ongoing negotiations.

A principal negotiator for the Chinese investors who is based in the Shandong province and in Europe was in Adelaide last week after Griffin on Friday confirmed a group had approached SA business icon Gerard for the club’s sale.

United’s Daniel Adlung runs with the ball against the Mariners at Coopers Stadium in February. Picture: Mark Brake / Getty

Football Federation Australia would also have to endorse the agreement of the sale before submitting all the details to the parent confederation Asian Football Confederation.

If the sale happens the new consortium will be the fourth owners of Adelaide.

Adelaide United was born in 2003 and was under the interim care of the now defunct SA soccer federation when it played in the final season of the national soccer league.

SA philanthropist Gordon Pickard — a huge supporter of local soccer — became the first Reds owner in 2005 when the A-League was introduced.

The club under Pickard’s reign claimed the inaugural A-League Premier’s Plate in 2006 and was a losing grand finalist in 2007 before he sold the club to Nick Bianco.

Bianco — a former construction mogul — owned Adelaide, which reached the 2008 AFC Champions League final, FIFA Club World Cup and the 2009 A-League grand final, for about two years.

Adelaide United take to the field with their children during the round 20 A-League match between the Reds and the Central Coast Mariners at Coopers Stadium. Picture: Mark Brake / Getty

Adelaide United celebrate a goal against the Mariners. Picture: AAP / James Elsby

FFA was forced to take the club back from Bianco when his construction business found itself in financial trouble with the club destined to be put on the scrap-heap until the current consortium became the new owners in 2010.

They oversaw the club’s greatest era winning the A-League championship and the Premier’s Plate in 2016, the FFA Cup in 2014 and attracting more than 50,000 fans to two matches at Adelaide Oval — the 2016 grand final and the 2015 clash against England’s Liverpool.

The club has also been the A-League’s key development club with a match this season parading eight local players in a starting 11, taking the flavour of the Reds back to SA roots.

Adelaide has also established a home base training centre at Elizabeth and was also locked in negotiations to secure Adams Oval in Salisbury North.

FFA has been contacted for comment.

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