Football Confidential: The intriguing claims of group that wants to buy Perth Glory
The bold projections of the mysterious group that want to buy Perth Glory, Arsene Wenger’s link with Sydney FC and the Jets’ welcome gesture. It’s all in Football Confidential.
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Welcome to the awe-inspiring world of the London Football Exchange, the mysterious body hoping to buy 80 per cent of Perth Glory — and where hopes and dreams are just as important as cold reality.
Launched in 2018 by a flamboyant character named Jim Aylward, LFE has grand plans of fans around the world buying its own version of a cryptocurrency – or LFE tokens – to become part of a “fan-driven football community” offering “once-in-a-lifetime” experiences, access to tickets, merchandise and even indirect ownership of clubs.
While Perth owner Tony Sage ponders the deal, LFE have exciting plans for a City Group-style collection of clubs. Their 40-page “white paper” is limitless in its ambition to address youth development, disaster relief and be an “organization (sic) of change”.
Remarkably, the LFE seems to have geospatial powers too, noting that “geographic restrictions prevent many fans from fully engaging with their favourite football clubs. The LFE intends to change this globally.”
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And yet, for some reason the anticipated stampede of enthusiastic fans may not have been forthcoming. According to the White Paper, 60 per cent of the 4,000,000,000 tokens due to be issued were meant for “public contributors”, and the other 40 per cent to LFE’s founders, partners, ambassadors and advisers (to be fair, there seem to be quite a few to service).
But two months ago, an investment fund registered in the Cayman Islands bought almost 89 per cent of the tokens, and issued guidance that it would sit on them for at least three years.
All of which leaves rather fewer of the tokens available than planned for the common fan to snap up, in the hope that eventually the LFE’s network of clubs it claims to have signed deals with extends beyond teams in the English third tier and Spanish sixth division.
In fact any fan who invests has to be in it for the long haul, for the simple fact that there is no way to get your money out again.
“In general, all contributions made are final and reverse exchange is not possible,” the company says in a FAQ section on its website.
That might explain such a lengthy list of employees and associated figures for a company in its infancy, including a management team of eight, five business development staff and 13 advisers.
Still, you can’t be too careful. As the white paper notes, some of its claims that include words like “will”, “intends” and “expects” are “of a future or forward-looking nature… all forward-looking statements address matters that involve risks and uncertainties.”
All of which may explain why FFA is in no rush to approve the mooted takeover, even if Sage decides to go through with it, and could take until next month to rule on it.
Attempts to contact LFE Asia Pacific head Peter Turnbull were not successful.
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SYDNEY FC academy boss Kelly Cross is about to start moving in exalted circles. Cross has been asked by no less a figure than Arsene Wenger to join a FIFA thinktank aiming to work out why European football dominates the global game so much.
Also on the panel are former England coach Steve McLaren and ex-US World Cup winner April Heinrichs, with the aim to improve coaching and identify young talent around the world.
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NOT only has she taken Caitlin Foord’s place on the Sydney FC teamsheet, but new signing Lindsay Agnew has gone the whole hog. Agnew has taken Foord’s room in a houseshare featuring teammates Alanna Kennedy, Veronica Latsko and Ally Green.
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It’s a simple gesture, but a powerful one. In the absence of a front-of-shirt sponsor, Newcastle Jets will carry a slogan for the Football for Fires even on their jerseys for the rest of the season.
“We’ve seen all the acts of generosity throughout Australia and the world throughout the summer, and we just wanted to do our bit where we could,” CEO Lawrie McKinna (pictured) said.
