The sale of embattled A-Leagues membership Perth Glory to Melbourne property tycoon Robert Brij has been terminated days earlier than a proper takeover.
In October, the A-League’s governing physique Australian Skilled Leagues revealed a consortium led by Brij’s Primeland Group would take the reins alongside entrepreneur John Nekic.
Former Perth Glory proprietor Tony Sage.Credit score: Getty Photos
However WAtoday can reveal the contract was terminated after situations weren’t met.
The deal, which was attributable to be finalised in a matter of days, marked the tip of an 11-week seek for a brand new proprietor by receivers at KordaMentha, who had been handed the membership after it was surrendered by Perth businessman Tony Sage.
KordaMentha’s receivers haven’t but responded to a number of requests for remark.
Sage’s 17-year possession of the membership was dropped at an abrupt finish in July when the APL slapped his firm Okewood with a breach discover.
The discover got here amid revelations the A-League’s governing physique had been bankrolling the membership’s participant and workers wages through secured loans for 5 months.
A receiver’s report lodged with the Australian Securities and Investments Fee exhibits it did so to the tune of $4.4 million, making it the entity’s second-largest creditor behind Okewood itself – which is claimed to have loaned the membership $33 million.
Sage, a mining entrepreneur who was additionally part-owner of Perth Trend Competition earlier than its collapse, has been mulling sale choices for years claiming he had spent $48 million attempting to maintain the organisation afloat.