MX23RW : Wednesday, August 22 04:06:16

Consortium completes takeover of Championship side Barnsley

Barnsley chief executive Gauthier Ganaye welcomes "an exciting chapter" for the club following the announcement that a takeover has been finalised.

Barnsley have confirmed that a takeover led by a Chinese billionaire has been completed, bringing an end to Patrick Cryne's 13-year spell as owner.

Cryne announced in September that he intended to step aside after being diagnosed with terminal cancer, opening the door for new investment streams.

As well as having Far East backer Chien Lee on board, Billy Beane, the baseball boss behind Hollywood film Moneyball, will also take control of the Yorkshire outfit.

Investors Paul Conway, Grace Hung and Neerav Parekh have been added to the board as part of the takeover, meanwhile, which chief executive Gauthier Ganaye hopes will signal "an exciting chapter" for Barnsley.

"We would like to thank every member of our loyal fan base for their patience and continued support over recent months," Ganaye told the club's official website.

"An exciting chapter is opening for Barnsley Football Club and we are looking forward to the future together."

Barnsley are 20th in the Championship, four points above the relegation zone.

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General views of Oakwell Stadium on September 5, 2011
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