Barnsley taken over by group including Chinese billionaire and Billy Beane

Barnsley have been taken over by a consortium led by the Chinese investor Chien Lee and American businesspeople Paul Conway and Grace Hung, the Championship club have announced.

The takeover has been ratified by the English Football League and the consortium has assumed control from the long-standing owner Patrick Cryne, who in September revealed he is suffering from terminal cancer.

The baseball pioneer Billy Beane will also invest into the South Yorkshire club alongside Neerav Parekh.

Beane used statistical analysis to identify undervalued talent during his time as Oakland Athletics’ general manager and turned their fortunes around, which became the inspiration for 2011 film Moneyball starring Brad Pitt.

A club statement on Barnsley’s website read: “The Cryne family have been in discussions regarding a potential takeover of Barnsley Football Club for the last few months with an investor consortium led by Chien Lee of NewCity Capital and Pacific Media Group, which is led by Paul Conway and Grace Hung.

“The club have gained English Football League approval for the change in majority shareholder and our new shareholders have now taken up their positions on the board of Barnsley Football Club.

“We are delighted to further announce that Mr Lee, Mr Conway and Ms Hung joined the Reds in the directors’ box at Griffin Park on Saturday, showing their support to Paul Heckingbottom and his players. “The club would also like to welcome Neerav Parekh and Billy Beane, who will also be investing in Barnsley Football Club with Mr Lee and Pacific Media Group.”

The Chinese billionaire Lee bought 80% of the Ligue 1 club Nice in 2016, where he sits on the board alongside Conway, who is also a director at the Riviera club.

Chien Lee
(@NewCityCapital)

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December 19, 2017

Lee and Conway will become co-chairman at Oakwell and hope to have a similar effect as they did at Nice, who qualified for the Champions League for the first time in their history this season.

Conway said: “Similar to our investment in OGC Nice, we expect to further enhance the academy, playing squad, commercial operations and fan experience of Barnsley Football Club. Barnsley has some of the most passionate fans in England and we look forward to meeting many of its supporters in the upcoming weeks.”

The news is timely for the Reds, who are 20th in the Championship, and have lost five of their last seven games.