Wellington businessman Terry Serepisos has lost control of the Wellington Phoenix football club, The Dominion Post understands.
The future of Wellington Phoenix football club will be revealed at noon today at a hastily organised media conference.
https://www.stuff.co.nz/dominion-post/news/5673141/Terry-Serepisos-loses-PhoenixFounder
Wellington businessman Terry Serepisos has lost control of the Wellington Phoenix football club, The Dominion Post understands.
The future of Wellington Phoenix football club will be revealed at noon today at a hastily organised media conference.
The Football Federation Australia, which controls the licence for
the Phoenix is refusing to comment ahead of the conference.
The meeting, at the Overseas Passenger Terminal, comes after intense speculation over the ability of cash-strapped club owner Terry Serepisos' ability to continue funding the club.
Mr Serepisos is trying to convince creditors and the High Court to accept a two-year sell off of properties valued at $232 million to cover debts to 27 organisations of $203m.
While his property portfolio is for sale, he has always maintained that the Phoenix would remain under his control.
Mr Serepisos has been in talks with Football Federation Australia over his continued involvement with the A-League football club, which he established in 2007. But behind the scenes there is a consortium of businessmen, led by investment banker Rob Morrison, who are willing to step in to finance the club if Mr Serepisos was unable to do so himself.
It is understood Mr Morrison has also had talks with the FFA.
And from Piney on ZB:
The future of the Wellington Phoenix will be known within the hour.
A media conference has been called for midday.
The conference is not being held at Phoenix headquarters, which is also the offices of owner Terry Serepisos's Century City Developments.
Serepisos met with Football Federation Australia officials earlier this week in an attempt to convince them he was still able to run the club.
Football commentator Jason Pine says it appears those pleas were unsuccessful, and ownership of the club looks likely to change hands.
A consortium of Wellington businessmen, including Gareth and Sam Morgan, have been closely linked with the Phoenix in recent times.
New owners are to take over Wellington Phoenix after the Football Federation of Australia revoked the license for the club, which had been held by Terry Serepisos.
The new owners - known as the Phoenix Five - are understood to actually number six in total, including Rob Morrison, Lloyd Morrison, Gareth Morgan, James Brown, Campbell Gower and Henry Tait.
The future of the Wellington Phoenix is about to be confirmed in a media conference at noon.
Under-fire Phoenix owner Terry Serepisos was late last month give more time to convince creditors he could orchestrate an orderly sale of his assets with a surplus of some $30 million.
- Herald Online and APNZ staff
BTW, I didn't write that, I'm in bed at home watching South Park! Keen to find out if the presser is going to screened anywhere.
Calling all fans in Japan, come down and support the mighty nix in Osaka
http://www.facebook.com/WellingtonPhoenixClubMembersSupportersGroupOsaka
Sad day if this is true... Too sceptical to believe any of the backstabbing 'journalism' that any of the mainstream media report, but have a feeling the writing may be on the wall this time.
This topic is locked.
"Phoenix till they lose"