May 26, 2018

Serepisos sells half of Wellington Phoenix

Terry Serepisos - 100 Million reasons to smile as long as the deal finally gets done.

Wellington Phoenix owner Terry Serepisos is set to sell a fifty percent stake in the club to Ahsan Ali Sayed, a wealthy Indian businessman based in Bahrain.

Ahsan Ali Sayed is the owner of Spanish La Liga side Racing Santander. The deal is set to make the Phoenix debt free and enable Serepisos to reorganise his business free from the spectre of bankruptcy.

Serepisos announced yesterday that he had secured a $100 million loan as well as selling half the Wellington Phoenix to Ahsan Ali Sayed.

He said the deal could open the way for Phoenix players to progress frm the A-League to Spain’s top flight La Liga football competition.

The deal has been done through Mr Ali’s Bahrain-based company Western Gulf Advisory and should be completed in mid March.

“I am doing the best for the Phoenix, the best for the city and the best for football … What could become of this for football in New Zealand is huge. It’s bigger than Ben Hur,” said Serepisos.

Mr Ali said his interest in the Phoenix was because he wanted to “help Terry Serepisos”.

“If I could do that by merely sponsoring the Phoenix to make it a little bit more liquid than it is today, then I would go for that option. If that cannot be achieved…then I will look into ownership…I am confident that I can do a deal with Terry.”

Serepisos says that he has been working on the deal for the past five months and is delighted he can now reveal the details and prove his doubters wrong.