Perth Glory owner Tony Sage is travelling to England to finalise the sale of the A-League club to a London-based investment group.
Sage says he’s close to finalising a majority sale to London Football Exchange (LFE) which will result in them acquiring an 80 per cent stake in the Glory.
Sage will remain in control of the Glory as LFE group chairman while retaining a 20 per cent stake in the club.
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Round 19LFE hope to use cryptocurrency to create a football stock market where fans, traders and investors can acquire shares direct from football clubs.Source: Getty Images
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“For the last 18 months I’ve been looking for a partner,” Sage told 6PR Radio in Perth.
“I’ve had three or four close encounters but they’ve wanted to change things.
“They wanted to change the name of the club, change the colours. So, yeah, I’ve been very reluctant to do it that way.
“I came across a group in London that have a fantastic vision for football.
“They want to own seven clubs around the world like the City group but instead of the City group rebadging Melbourne Heart to Melbourne City and Yokohama City, New York City, they will let each club keep its own identity.”
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LFE launched in 2018 with the aim of using cryptocurrency to create a football stock exchange and market where fans, traders and investors can acquire shares or purchase merchandise and experiences direct from football clubs.
As part of its plan, the group intends to acquire seven professional football clubs of which Sage said Perth is just the first.
“There’s an offer in for a French club, an Italian club and an EPL (English Premier League) club at the moment,” Sage said.
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“They wanted to get things done quickly and they just said ‘why don’t we start off with an Australian club?’
“We’ve been negotiating, I don’t know how it leaked, but obviously lawyers talk, and I’m in Dubai now on my way to London and hopefully it’s signed in the next few days.”
Sage said his role as chairman with LFE will mean he will be in control of the Glory and any others clubs the group acquires internationally.