Embattled A-League club's $70m lifeline
Western United's future has been secured following a majority takeover of the A-League club by an American real estate and sports company.
KAM Sports, via its subsidiary KAM Melbourne, has paid a figure between $70m and $100m for a controlling stake in United and its financially embattled parent company Western Melbourne Group (WMG).
As part of the sale, KAM Melbourne has committed to fulfilling WMG's ambition to build a 15,000-seat stadium at United's base in the western Melbourne suburb of Tarneit.
KAM Melbourne will also pay the necessary fee to have United's FIFA registration ban – which was slapped on the club reportedly over a matter involving former United striker Aleksandar Prijovic – lifted.
'After a 12-month due diligence process and multiple visits to Melbourne, we are delighted to inject our capital, expertise and passion into Western Melbourne Group and its related entities,' KAM Melbourne chairman Maciek Kaminski said.
'This represents our first investment Down Under, and the combination of integrating sport and real estate to make a meaningful impact in the local community in the west attracted us to this opportunity.
'The scale and scope of the WMG vision aligns very well to our own skill sets where we can add real value.
'The community knows that this is a project that will deliver lifetime benefits and produce our future Socceroos and Matildas from Melbourne's western suburbs, and we are fully committed to doing just that.'
A second A-League title, as early as this season, to go with the championship United won in 2022 is also a target for Kaminski.
'Given our sporting ambitions, we look forward to building on the success of the club and supporting the team in its charge towards a second A-League men's title this season,' he said.
'More importantly, we aim to bring financial stability and sustainability to the club and ensuring that it can become one of Australia's leading professional sporting organisations and strong corporate partner for the league.
'The prospect of being the first sports team to fully own their stadium is exciting and we look forward to accelerating the development of this and seeing it filled with local community and supporters.'
WMG chairman Jason Sourasis said KAM Melbourne's investment would 'ensure the delivery of significant social and economic benefits for the city of Wyndham and the state of Victoria'.
'It was important to partner with a group that aligned with our values and believed in the vision,' he said.
A-League boss Stephen Conroy said: 'The pending sale of Western United to KAM Melbourne marks an exciting new chapter for the club, the community and Australian football more broadly.
'With KAM Melbourne's demonstrated commitment to growing the game and commitment to building the stadium, this partnership brings fresh energy and enormous potential for success on and off the field.'
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