Chinese company Ledman buys Australia’s Newcastle Jets

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China’s Ledman Group has purchased Australian A-League club , Football Federation (FFA) said on Tuesday.

The Shenzhen-based optoelectronics company, which is already a sponsor of the Chinese Super League and owns the naming rights to the Portuguese second division, Ledman LigaPro, will take ownership of the club at the end of the month.

Media reports in Australia said the purchase of the club cost Ledman and its major shareholder, Martin Lee, around A$5 million (2.60 million pounds).

“We see a bright future for football across Asia and the Hyundai A-League is at the forefront as one of the top professional leagues in the region,” Lee said in an FFA news release.

“The investment aligns with Ledman’s activities in several sectors of the sports industry and I’m excited by the potential of the club.”

Ledman were also part of a consortium of Chinese interests which purchased sports marketing giant Infront Sports and Media group last year, investing 25 million euros (19.88 million pounds) in the Swiss-based company.

Via: The star Malaysia