Indonesian firm buys full stake in an Australia football club

Indonesian firm buys full stake in an Australia football club
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Indonesia's Bakrie Group has assumed full ownership of reigning A-League champion Brisbane Roar, becoming the first foreign company to take 100 percent control of a club in Australia's elite domestic competition. Bakrie bought a 70 percent stake in Brisbane Roar last September, becoming the first majority foreign owner of an A-League team. Football Federation Australia announced Monday that Bakrie had "acquired 100 percent ownership" and was in the process of appointing a board that will include both foreign and local directors. Bakrie Group also has stakes in football clubs in Belgium, Uruguay and Indonesia. "This is a significant step for the A-League with the Brisbane Roar becoming the first Australian professional club with owners from Asia," A-League chief Lyall Gorman said in a statement. "We can foresee many exciting opportunities ahead for the Roar and Australian football under this relationship. "Best of all the Bakrie Group is full of passionate football people, who will bring an injection of new ideas and insights to our national competition." Aga Bakrie said he saw "huge potential" in the A-League and wanted to develop Brisbane into Australia's biggest club and a powerful player on the continental stage. The FFA announced last year that Bakrie Group had taken the initial stake under a 10-year license. FFA, which took the Roar's license in March 2011, originally retained 30 percent. FIFA ethics committee member Dali Tahir will be chairman of the club. Although it was the first foreign majority ownership of an A-League team when it was announced last year, Russian millionaire banker David Traktovenko had a 20 percent stake in Sydney FC through one of his Australian manufacturing subsidiaries at the same time. The A-League has been troubled by team ownership issues, in addition to having to take over the Brisbane license. The North Queensland Fury folded in February due to financial problems, reducing the league to 10 teams, and there have been some issues with several other franchises. taken from The Jakarta Post

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