Adelaide United licence returned to FFA

Nick Bianco, owner of the Adelaide United A-League licence has officially handed the club back to Football Federation Australia (FFA), with the FFA today announcing that it would assume ownership of the club "on an interim basis".

Adelaide United Chief Executive Sam Ciccarello says, while it will be business as usual within the administration, the FFA will have overall control of the finances, explaining that "Bianco Trading Supplies has relinquished its franchise rights and handed over the club licence for Adelaide United to the FFA, that's effective now."

Ciccarello says Adelaide United is in good shape and he expects lots of interest from investors.

The interim arrangements come after discussions which commenced in late February when Bianco advised that he wished to withdraw his investment in the club due to external business reasons. Since that time Bianco had unsuccessfully sought joint partners to help share the cost of running the club.

Explaining the move, FFA Chief Executive Ben Buckley stated "we are confident that a suitable new owner for the club will be found, but we are also prepared to wait for the right new owner or owners."

Buckley added that FFA will assume Adelaide United players' contractual arrangements and staff employment contracts as well as club operating costs.

Adelaide United has been one of the most successful clubs in the A-League. In 2008, it reached the final of the AFC Champions League, participated in the 2008 FIFA Club World Cup and has participated in three out of the four finals series in the A-League to date.

Image: Adelaide United's 2008 AFC Champions League squad.

20th February 2008 - NEW STADIUM FOR ADELAIDE?