Barnsley FC taken over by Chinese-American consortium

Barnsley FC has confirmed that a deal has been struck to see a consortium led by Chinese-American investor Chien Lee take over the club.

Chien Lee of NewCity Capital and Pacific Media Group, which is led by American businesspeople Paul Conway and Grace Hung, have been granted approval for the takeover by the English Football League.

The new shareholders of the Championship club have now taken up their positions on the board.

They take over from the Cryne family, with owner Patrick Cryne stepping down after revealing he is suffering from terminal cancer back in September.

The investor consortium also includes American baseball star Billy Beane, who is the former Oakland A’s general manager. Billy’s time with the Oakland Athletics’ was adapted into the 2011 film ‘Moneyball’ which starred Brad Pitt.

Chien Lee, who has become new co-chairman, said: “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.”

Paul Conway, who is also a co-chairman, 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.”

Chief Executive Gauthier Ganaye also 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.”