A local South Australian consortium has taken ownership of A-League club Adelaide United, Football Federation Australia announced on Monday.
The consortium is made up of wealthy SA businessman Robert Gerard, Dr Richard Noble, Bruno Marveggio and high profile lawyer Greg Griffin, who will chair the club.
Football Federation Australia had controlled the Reds since May 2009 after businessman Nick Bianco decided to relinquish ownership of the club.
FFA CEO Ben Buckley said the ownership change was a huge vote of confidence in the A-League.
“This move will see Adelaide United go from strength-to-strength and be transformed into a true community Club owned by local Adelaide business people,” Buckley said.
“By putting the Club in the hands of a highly-respected, passionate and wholly local consortium we’ve ensured the success and the future of Adelaide United Football Club.”
The Gerard consortium’s ownership, which was bought for an undisclosed fee, is effective immediately.
