Barnsley FC's new owners and investors promised a gradual increase in the club's financial power in the coming years as they were unveiled a press conference at Oakwell today.
Previous owner Patrick Cryne has sold 80 per cent of his stake in the club, while his son James will retain a seat on the board. The new owners are Chinese billionaire Chien Lee and US businessman Paul Conway – who will be co-chairmen – as well as Conway’s partner in his business Pacific Media Group, Grace Hung. There is also investment from Indian businessman Neerav Parekh and baseball legend Billy Beane.
Conway said: "We want to stabilise the team in the Championship and deepen the squad. Our belief is that, through the commercialisation and internationalisation of the club, everyone will benefit. You will see a growth in resources and revenue increase year after year. We believe we can make improvements but we will take our time. We're not going to go crazy."
He added that the new owners would look to buy Cryne's half of Oakwell and the surrounding area in the next six months, with the other half owned by the council. He praised the Cryne family and head coach Paul Heckingbottom, who he said would be able to strengthen his squad in January.
Full story with quotes from Conway, Lee, Hung, Parekh, Heckingbottom and chief executive Gauthier Ganaye in this week's Chronicle.
