Barnsley Football Club has announced the completion of a takeover by Asian consortium NewCity Capital and Pacific Media Group.
Making the announcement via the club’s official website, current owners, the Cryne family who have been in discussions regarding a potential takeover of Barnsley Football Club for the last few months, confirmed an agreement had been reached.
The investor consortium, led by Chien Lee of NewCity Capital and Pacific Media Group, which is led by Paul Conway and Grace Hung will taken up their positions on the board of after the club gained English Football League (EFL) approval for the change in majority shareholder.
Barnsley Chief Executive, Gauthier Ganaye stated: “We would like to thank every member of our loyal fan base for their patience and continued support over recent months. An exciting chapter is opening for Barnsley Football Club and we are looking forward to the future together.”
Chien Lee and Pacific Media Group led a group which purchased 80% of OGC Nice in June 2016. Mr. Lee is Chairman of the Supervisory Board of OGC Nice where Mr. Conway is also a Director. In their first year of ownership, OGC Nice finished in third place in France’s Ligue 1 and qualified for the UEFA Champions League for the first time in the club’s history.
Co-Chairman Chien Lee, says: “We are very excited to partner with the Cryne family and invest in Barnsley Football Club. The Cryne family have exhibited spectacular leadership building Barnsley Football Club over the last 14 years and we are excited to join them to further the growth of the club.”
Co-Chairman Paul Conway, added: “Similar to our investment in OGC Nice, we expect to further enhance the academy, playing squad, commercial operations and fan experience of Barnsley Football Club. Barnsley has some of the most passionate fans in England and we look forward to meeting many of its supporters in the upcoming weeks.”
The club also welcomes Neerav Parekh and Billy Beane, who will also be investing with Mr. Lee and Pacific Media Group.
A press conference will be held at Oakwell Stadium on Wednesday 20th December, 2pm, with the presence of Chien Lee, Paul Conway, Grace Hung and Gauthier Ganaye. A full announcement regarding the structure of the new ownership of Barnsley Football Club as well as the composition of the new board will be presented to the media, along with the objectives for the future of the club both on and off the pitch.
Image: PA Images