Lowy to retain small share in Sydney FC
Football Federation Australia chairman Frank Lowy will retain a small share of Sydney FC after he sells most of shares. The announcement to relinquish shares to Russian millionaire David Traktovenko and healthcare businessman Paul Ramsay is expected to be made today.
"It is very good news that both David Traktovenko and Paul Ramsay want to invest in football," Lowy said yesterday.
"David has extensive football passion, knowledge and interest and knows how big the sport is.
"Paul Ramsay is an astute businessman who would not get involved if he did not think it a worthwhile investment.
"My sole concern ... is to see Sydney FC as a financially secure and stable football club."
Lowy has said that focusing more time on FFA matters such as the bid for the 2018 World Cup has lead to his decision to sell the club.
"There is so much work to do," he said. "I want to be focused on our World Cup bid (for 2018), which is due with FIFA by the end of 2010."