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Lee takes over Barnsley
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An investor consortium led by Chinese businessman Chien Lee has completed a takeover of Championship side Barnsley, the British club鈥檚 owners the Cryne family announced yesterday.
鈥淭he best interests of Barnsley Football Club and its fans have always been at the forefront of everybody鈥檚 minds and the Cryne family is now happy to officially announce that a deal has been agreed between all of the parties,鈥 the club said in a statement on its website.
The consortium also includes American investor Paul Conway and Grace Hung of Pacific Media Group. Lee, founder and chairman of investment company NewCity Capital, purchased 80 percent of French top-flight club Nice in June 2016.
No details of the Barnsley deal were released but Reuters reported in September that the consortium will pay 20 million pounds (US$27 million) for a 98.5 percent stake in the club from owner Patrick Cryne, who is terminally ill.
Cryne said the new ownership has 鈥渁ll the synergies, skills and resources needed to make a success of the future鈥.
Lee and Conway will become co-chairmen at Barnsley, which spent one season in the English Premier League in 1997-98 and currently sits 20th in England鈥檚 24-team Championship.
Barnsley is the fourth Championship team to fall under Chinese control after the Midlands trio of Aston Villa, Birmingham City and league leaders Wolverhampton Wanderers.
In the EPL, Southampton and West Bromwich Albion 鈥 another club from the Midlands 鈥 are Chinese-owned, while Chinese consortium CMC Capital owns a 13-percent stake in Manchester City.
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