Lowy family sells off final stake in Sydney FC to end their connection with football

The Lowy family’s decades-long involvement in football in Australia is over after a key move involving Sydney FC.

Former FFA chairman Frank Lowy. His family has sold its stake in Sydney FC to cut all ties with the game. Picture: Richard Dobson

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The Lowy family’s separation from football is effectively complete, after their family investment trust sold its last remaining stake in Sydney FC.

Sky Blues owners David Traktovenko and Scott Barlow have purchased the remaining 10 per cent stake in the club that the Lowy family still owned, meaning the club is 98 per cent in the hands of the Russian billionaire and his son-in-law.

Ten months after the Lowy family’s tenure at the head of Football Federation Australia finally came to an end, the sale is a symbolic moment given their central role in running the sport since 2003.

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Former FFA chairman Frank Lowy. His family has sold its stake in Sydney FC to cut all ties with the game. Picture: Richard Dobson

Frank Lowy took an initial stake in establishing Sydney FC 15 years ago, despite being chairman of FFA at the time, and pumped more money in to become majority shareholder after the club made substantial losses in the first season despite winning the league.

In December 2008, Traktovenko and healthcare billionaire Paul Ramsay agreed a deal to become majority shareholders of Sydney, before Traktovenko alone took control four years later.

“Our family remains as committed as ever to Sydney FC and excited about the club’s future,” said Barlow in a club statement.

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“This additional investment provides Sydney FC with further stability as we continue to implement our strategy and build on the outstanding growth and success of recent years.”

Frank Lowy stood down as chairman of FFA in 2015 and was succeeded by Steven at a point when the A-League clubs had begun to seriously agitate for a greater say in the running of the game.

Steven stood down as chairman last November after seeing reforms to the game’s power structure passed despite his fierce opposition.