Wellington Phoenix Has New Owners

Wellington, New Zealand : Football Federation Australia says the Wellington Phoenix will play in the Australian A-League under new ownership next season after its founder, financially-troubled propery developer Terry Serepisos, agreed to step aside.

FFA chief executive Ben Buckley said Serepisos has agreed to relinquish the team license in the best interests of the club after discussions this week.

The Phoenix, which is the only New Zealand-based club in the 11-team A-league, will be taken over by a consortium of businessmen headed by investment banker Rob Morrison.

Serepisos, who founded the Phoenix in 2007, said "I feel very proud to have created this football club from scratch and I have poured all of my heart and energy into it, but I have come to the conclusion that it is time to hand the license back to FFA."AP