A-League news: Perth Glory sale, purchase, deal, Tony Sage, London Football Exchange court case, Jim Aylward

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Perth Glory owner Tony Sage has decided against selling the A-League club to controversial bitcoin company London Football Exchange (LFE).

Sage had planned to sell 80 per cent of the club to LFE but he advised Football Federation Australia on Monday night that the deal would not proceed.

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It was revealed yesterday that the London-based cryptocurrency company and its CEO Jim Aylward were facing a $US2.2million (A$3.3m) lawsuit in the UK High Court for partaking in ‘fraudulent misrepresentations’.

Now it appears the deal is off — news that will undoubtedly come as a huge relief to Glory fans who had expressed fears about LFE and the group’s business model.

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