To see the new owners signing off the deal...

 

Since being handed back the licence in May 2009 by former owner Nick Bianco, FFA has run the club as they searched for a buyer.

The deal for the Gerard Consortium to take over was signed today at the club's Hindmarsh HQ with a  10-year licence which runs until 2020.

FFA CEO Ben Buckley said today’s signing was a great result for the people of Adelaide and a huge vote of confidence in the Hyundai A-League.

“This move will see Adelaide United go from strength-to-strength and be transformed into a true community club owned by local Adelaide business people,” Buckley said.

“By putting the club in the hands of a highly-respected, passionate and wholly local consortium lead by Robert Gerard, FFA has ensured the success and the future of Adelaide United Football Club.

“We were particularly impressed with the consortium’s business credentials and vision for the club.

“FFA will continue to assist in the immediate short term to ensure the handover is smooth for the club and its playing, coaching and backroom staff.

“Today is a fantastic day for the club and the Adelaide community on mass as it delivers a team showing great results on the field being fully supported by a respected and committed community ownership group off the field.”

Adelaide United will undergo some immediate restructuring with Sam Ciccarello stepping aside from his position of CEO that he has held since 2006 to work with FFA on a series of special projects.

“I would like to praise Sam for his contribution to the club and for the tremendous job he has done managing Adelaide United Football Club in recent years,” said Head of Hyundai A-League Lyall Gorman.

“Despite some fairly tough times the Adelaide United brand and equity has never been stronger and that is testament to Sam and the management team.

“When any new ownership group comes in they are always inclined to install their own management and that decision is no reflection on the existing team at the club.”

Incoming CEO Glenn Elliott will take control of Adelaide United operations with immediate effect and work together with FFA and a group of consultants during the club’s transitional ownership period.

New chairman Greg Griffin said the consortium welcomed the opportunity to return the club to the ownership of business people that work and live in South Australia.

“We plan to add stability and sustainability to the club and it will be run by people from the South Australian community for the community,” Griffin said.

“We would also like to announce that Fay Gerard OAM will be appointed patron of the new club.”

To see the new owners signing off the deal...