A local consortium has taken over the ownership of Australian A-League club Adelaide United, officials said on Monday.
The consortium, led by one of South Australia's richest businessmen Robert Gerard, took over the control of the Reds from the governing body Football Federation Australia (FFA).
The FFA ran Adelaide United since May last year when local businessman Nick Bianco relinquished ownership of the club. The Gerard consortium bought the Reds' licence for an undisclosed fee from the FFA, officials said.
"We paid more than we wanted to and less than they (the FFA) wanted," Griffin said.