The FFA have formally taken control of the club after the previous owners handed back the licence  despite the club winning the double this season under coach Ange Postecoglou.

Star striker Jean Carlos Solorzano has already left the club to join Melbourne Victory after the FFA's tight budget wouldn't cover the cost of his loan for another season.

Now McLennan will join him out the door after he helps the FFA ease into control.

 

McLennan today said he was comfortable with his decision, believing the club was in a fantastic position to make the most of its recent success.

“I’ve thoroughly enjoyed my time at the club,” said McLennan.

“There is no doubting we’ve had our challenges but I now believe the time is right for me to move on, enjoy some down time with my young family and allow the next phase of the club’s evolution take place.

“I’d like to thank all staff, players, coaches, sponsors and of course our wonderful fans – seeing Suncorp Stadium on Grand Final day is an image I will never forget and underlines the enormous potential this club has.”

FFA CEO Ben Buckley paid tribute McLennan's contribution which led to the Brisbane's record-breaking season this year.

“The club has recorded unparalleled achievements in recent times which is a testimony to Peter’s passion, time, energy and commitment to the club over last four years,” said Buckley.

“I would like to acknowledge and thank Peter for his unwavering commitment, dedication and professionalism in guiding the club. 

“In particular, 2011 has been the undoubted high point of the club’s short history and has set new benchmarks not just for the club but for the Hyundai A-League as a whole. 

“Coming off a disappointing season last year, the club has won both the premiership and championship, qualified for the AFC Champions League and recorded the longest undefeated streak in Australian football history. 

“And it has done it all in great style, setting a new standard of play for the competition and implementing an exciting youth development strategy.” 

Buckley said that there was already good interest in the club which he said was unsurprising given the achievements of the club and its future potential for growth.

He added: “No one who was at Suncorp at that amazing come from behind Hyundai A-League Grand Final victory before 50,000 fans can doubt the level of passionate support for the club in Brisbane. 

“With the retention of Ange Postecoglou and his vision for the future, the club is well placed to build on its successes to date and this makes it a very attractive proposition for investors.”