Football Federation Australia (FFA) has announced a group of Wellington-based businessmen will be the new owners of the A-League club. Investment banker Rob Morrison will lead the consortium after the club's founding father, Terry Serepisos, agreed to step aside following financial difficulties with his businesses.
"I feel very proud to have created this football club from scratch and I have poured all of my heart and energy into it but I have come to the conclusion that it is time to hand the licence back to FFA," said Serepisos.
"This is not an easy decision but I feel it is the right decision in the best interests of the club, New Zealand football and especially the Phoenix fans. I wish the new owners all of the best in the future and I will always be extremely proud of everything the Wellington Phoenix club has achieved."
FFA CEO Ben Buckley, said: "We would like to welcome Rob and his team into the Hyundai A-League and have no doubt they will ensure Wellington Phoenix continues to prosper for the years ahead.
"Having businessmen of the calibre of Rob and his team ready to invest in the club is a great testament to the standing and reputation of the Hyundai A-League and its future growth prospects.
"Securing the future of the club was Football Federation Australia's number one priority for the fans and the stability of the Hyundai A-League and we are proud to present Rob and his team to the football family."
