The announcement that Terry Serepisos had relinquished ownership of Phoenix because of on-going financial problems and debts of over $200 million came as no surprise after a turbulent off-season that's been filled with uncertainty for the players, coaching staff and fans.

Only 17 of the 20 required players have been recruited with just two weeks to go before their season kicks off against Gold Coast United on October 9.

A consortium of Wellington businessmen, led by investment banker Rob Morrison, who had been working behind the scenes to step in amid concerns for the club's future, have now been granted the licence for five years by Football Federation Australia which will ensure the club remains in Wellington.

"The change in licence and governance means the team and management can now focus on the opening games of the season without any distractions," said Gareth Morgan, a member of the consortium behind Welnix Ltd, the new licence holders.

"Negotiations to contract the full quota of players will also start immediately. We recognise and acknowledge the tremendous job that Terry Serepisos achieved in establishing the Phoenix in Wellington.

"We will offer Terry on-going recognition as Founding Patron of the club. He has made a very special contribution to New Zealand soccer.

"Discussions will start immediately with all existing office staff and team management and the new owners are optimistic that all staff at all levels will be retained."

Morrison said the group were confident that the player roster would be filled before the start of the season.

"We are comfortable around the player roster," Morrison said.

"We are comfortable that Ricki (coach Ricki Herbert) has got the wherewithal to put a really good squad together or to build on the existing squad - he has got to add a few more players and put those together – and that the Phoenix will have a good season."

Morgan said the consortium would take a hands-off approach and would leave current chief executive Nathan Greenham and Herbert to run the day-to-day and football side of things respectively.

"We would hope we don't have to be hands-on at all. The club structure already has its experts in Ricki, Nathan and so on," Morgan said.

"It will have a board that looks after governance. We will have the right balance of skills on that board to make sure the financial side of things are contained.

"We would hope we don't have to be hands-on. That is not the intention. The consortium came together solely to keep this entity in Wellington. That is what is driving this."

Morrison added: "I am not going to be instructing Ricki on how to run a football team."

New Zealand Football (NZF) have also given their backing to the new ownership model.

Chief executive Grant McKavanagh said: "NZF is confident that under new ownership the franchise will continue to nurture and develop All Whites and provide a pathway to professional football for aspiring Kiwis. "

Chairman Frank van Hattum offered gratitude for the contribution of Serepisos.

"NZF would like to thank Mr Serepisos for his leadership of the Wellington Phoenix," he said. "The effort, resources, commitment and passion he has invested into the club has been a major contributor to the growth of football in New Zealand over the past four years.

"We will forever be indebted to him and he has a well-deserved place in the history of football in New Zealand and will always be considered a close friend of NZF."