Adelaide Utd future in serious doubt

Asian Champions League finalists Adelaide United future is in serious doubt.

Asian Champions League finalists Adelaide United future is in serious doubt.

The Australian says Nick Bianco, a South Australian building tycoon with a passion for soccer, has been told to either considerably reduce the size of his investment in the Reds or get rid of it completely if he wants to keep his private business afloat.

News of Adelaide's predicament gained momentum yesterday after rumours spread like wildfire that Bianco had already handed over the club's A-League licence to Football Federation Australia.

"It is no secret Nick's company is having serious financial problems," a close associate of Bianco said. "He would sell the club lock, stock and barrel if he could. He told me he would sell it to the devil if the offer was right."

While it is believed Bianco is hopeful of finding new investors or someone to buy the club completely, there appear to be few options on the horizon.

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