(Reuters) – Perth Glory have been placed into receivership because of financial difficulties, ending businessman Tony Sage’s 15-year sole ownership of the club, governing body Australian Professional Leagues (APL) said on Saturday.
APL said advisory firm KordaMentha has been appointed to oversee the transition of the club’s license to new owners, adding that it expected the process to be concluded “within the next 10 weeks”.
Sage has ceased his ownership of the club with immediate effect, APL said.
Sage took a stake in the club as part of a consortium in 2007 before taking sole control two years later after buying out fellow investor Brett McKeon. He began seeking new investment in the club in 2018.
The 63-year-old said he battled to keep Perth afloat during the COVID-19 pandemic and the club’s finances were also hit by a forced relocation from the Perth Oval, which underwent upgrades to stage Women’s World Cup group stage games.
“My family has invested millions into the club to put competitive men’s, women’s and youth teams on the pitch,” Sage said.
“This investment was increased greatly and unsustainably by the impact of COVID-19, which decimated the club’s income streams, and then further compounded by our forced relocation last season for 10 of 13 home games.
“The culmination of these events and the damage they caused has made it all but impossible for us to continue financing the club and led directly to the position we find ourselves in today.”
Perth’s men’s team won the A-League Premiership in 2019 and reached two Grand Finals, while the women’s team secured the 2019 Premiership and competed in three Grand Finals.
The clubs’ former players include Matildas captain Sam Kerr and ex-England and Liverpool striker Robbie Fowler.
The Perth Oval will stage the World Cup Group D game between Denmark and China later on Saturday.
(Reporting by Hritika Sharma in Hyderabad)
