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Lowy looking at adding Leeds United to portfolio
DANIEL LANE
April 11, 2010
FOOTBALL Federation Australia chairman Frank Lowy is considering buying one-time English giants Leeds United after commissioning a report into the venture.
The Sun-Herald can reveal Lowy engaged a Leeds-based sporting agent to compile a due diligence report on the club in January.
Lowy, whose personal fortune is estimated to be more than $6 billion, is understood to now have a paper that states despite Leeds being in England's third-tier competition - Football League One - they remain a strong brand with a massive supporter base, drawing crowds of 25,000-plus.
While FFA said Lowy was overseas and unavailable for comment yesterday, the reasons for his interest in the club could be to give Australian players a base, to reinforce Australia's World Cup bid or simply an investment opportunity.
The Leeds squad contains two Australians - Patrick Kisnorbo and Neil Kilkenny - and Harry Kewell, Mark Viduka, Paul Okon, Tony Dorigo and Jacob Burns all had stints at Elland Road.
"I don't think United's tradition for signing Australians had anything to do with his [Lowy's] interest," a source told the Herald.
"I do know, however, he is making quite an impression on a lot of people in trying to win Australia the right to host the World Cup.
''He has corporate credibility in England through his business [Westfield] while football-wise he's seen as both passionate and intelligent. The view is any English club would be lucky to have him buy into it."
However, Lowy has been informed of Premier League giants Manchester United and Liverpool drowning in debt, players commanding inflated wages and concerns about falling broadcast revenues.
"He has a lot to consider," said the source. "I heard about this when Lowy's interest in Leeds was in the embryonic stages almost four months ago.
''His interest has been kept quiet, but that's not unusual as these things [ownership] are normally staged behind closed doors and away from the public glare. They'll involve the 'golden circle' of lawyers, accountants and the like in somewhere like London now."
As Lowy's agent compiled the report in January, Sulaiman al-Fahim, who brokered the deal for Sheikh Mansour to buy Manchester City and was a former owner of Portsmouth, ranked Leeds - fourth in League One heading into this weekend - a great investment opportunity in English football.
DANIEL LANE
April 11, 2010
FOOTBALL Federation Australia chairman Frank Lowy is considering buying one-time English giants Leeds United after commissioning a report into the venture.
The Sun-Herald can reveal Lowy engaged a Leeds-based sporting agent to compile a due diligence report on the club in January.
Lowy, whose personal fortune is estimated to be more than $6 billion, is understood to now have a paper that states despite Leeds being in England's third-tier competition - Football League One - they remain a strong brand with a massive supporter base, drawing crowds of 25,000-plus.
While FFA said Lowy was overseas and unavailable for comment yesterday, the reasons for his interest in the club could be to give Australian players a base, to reinforce Australia's World Cup bid or simply an investment opportunity.
The Leeds squad contains two Australians - Patrick Kisnorbo and Neil Kilkenny - and Harry Kewell, Mark Viduka, Paul Okon, Tony Dorigo and Jacob Burns all had stints at Elland Road.
"I don't think United's tradition for signing Australians had anything to do with his [Lowy's] interest," a source told the Herald.
"I do know, however, he is making quite an impression on a lot of people in trying to win Australia the right to host the World Cup.
''He has corporate credibility in England through his business [Westfield] while football-wise he's seen as both passionate and intelligent. The view is any English club would be lucky to have him buy into it."
However, Lowy has been informed of Premier League giants Manchester United and Liverpool drowning in debt, players commanding inflated wages and concerns about falling broadcast revenues.
"He has a lot to consider," said the source. "I heard about this when Lowy's interest in Leeds was in the embryonic stages almost four months ago.
''His interest has been kept quiet, but that's not unusual as these things [ownership] are normally staged behind closed doors and away from the public glare. They'll involve the 'golden circle' of lawyers, accountants and the like in somewhere like London now."
As Lowy's agent compiled the report in January, Sulaiman al-Fahim, who brokered the deal for Sheikh Mansour to buy Manchester City and was a former owner of Portsmouth, ranked Leeds - fourth in League One heading into this weekend - a great investment opportunity in English football.
