JETS executive chairman Shan Mattiske said the landmark multimillion-dollar investment in the A-Leagues by an American equity firm would provide fresh funds and expertise to grow football in Australia.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Technology investment specialists Silver Lake has outlaid nearly $140 million to buy a 33 per cent stake in the men's and women's competitions.
The deal has been approved by the federal government's Foreign Investment Review Board and is regarded as a game-changer for a sport that has struggled to attract investment.
"It gives anyone involved in the game great confidence about our future," Mattiske said. "It demonstrates the faith that private investors have in the football in this country and will bring fresh funds to drive the growth of the game as a whole. That is going to benefit every A-League club. "
A number of initiatives, including the expansion of the men's competition to 14 teams, full home-and-away season for the women and the introduction of a proper youth league have been flagged.
"There is expertise that will come to the decision making table at the APL that will allow those different initiatives to be explored," Mattiske said. "And should they be fast-tracked, there is investment to support them."
Silver Lake, which is based in California, has an estimated $A123.3 billion in assets under management and has invested in sports regularly over the past couple of years including a $700.4m deal to buy a 10 per cent stake in the City Football Group - the parent company of English Premier League champions Manchester City and A-League Men's champions Melbourne City.
Under the terms of the APL deal, Silver Lake boss Stephen Evans will also become a part of the body's board.
"There will be a greater focus on how the game is marketed and a broader strategy for the game," Mattiske said. "As Silver Lake starts to become engaged they will be looking at decisions like expansion and other areas that require investment.
"There is a real confidence that there is new expertise coming into the game and it is expertise that will support the growth and long-term sustainability."
The Jets have struggled for financial stability throughout its history. A group of four owners of rivals clubs took control of the licence last year after Chinese businessman Martin Lee ceased funding the operation.
The group plans to rebuild the club and on-sell to new investors.
"The new ownership structure has brought stability to the club and we are now focused on growth," Mattiske said. "The introduction of Silver Lake at the APL level will further drive the growth of the game as a whole."
The Jets are approaching 7000 members and have a number of new major partners, headed by shirt sponsor Port of Newcastle.
"It has been less than 12 months since the new ownership group took control and we have already seen growth of 50 per cent in membership and nearly 50 percent in sponsorships," Mattiske said.
"That stability has now shifted to a phase where we are seeing growth.
"We have seen some positive growth in membership and with 10 home games remaining at McDonald Jones Stadium and rights to attend the Mariners game, memberships are still an attractive proposition and we are hoping that the public will look at it as a great Christmas gift and there are promotions to support that."
IN THE NEWS:
Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content:
- Bookmark: newcastleherald.com.au
- Download our app
- Make sure you are signed up for our breaking and regular headlines newsletters
- Follow us on Twitter
- Follow us on Instagram
- Follow us on Google News