Aussie sporting team receives record $100million investment to secure its future - but is for the right reasons?
Western United have been rescued by billionaire US property tycoons Maciek and Mikhail Kaminski, who have agreed to invest $100million into the embattled A-League club.
The historic deal - said to be the richest deal in Australian sporting history - was announced on Friday.
KAM Sports, via its subsidiary KAM Melbourne, has paid a figure between $70million and $100million for a controlling stake in Western United and its parent company Western Melbourne Group (WMG).
As part of the sale, KAM Melbourne will help achieve WMG's ambition to build a 15,000-seat stadium at United's base in the western Melbourne suburb of Tarneit.
But the deal isn't all about football - land development at Tarneit was crucial in drawing the father-son Kaminski duo into their Australian investment.
The significant investment couldn't have come at a better time for Western United - the playing group recently saw their monthly pay delayed by a week and additional financial dramas saw FIFA impose a lengthy transfer ban on the club.
According to News Corp, in March the Australian Taxation Office (ATO) was looking to wind up WMG Football Club and WMG Holdings Co – the two companies underpinning Western United.
But thanks to the significant money injection from KAM Melbourne, Western United now appear to have a rosy future.
'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.
'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.
'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-League boss Stephen Conroy added: '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.'
On the field this season, John Aloisi's men are comfortably nestled in the top six ahead of the A-League finals series.
They host league champions Auckland FC on Saturday night at Ironbark Fields from 6pm knowing three points could see them finish as high as second.
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