Russian takeover for Sydney FC

Frank Lowy has sold his controlling interest in Sydney FC to Russian banker David Traktovenko and media and healthcare owner Paul Ramsay.

Traktovenko and Ramsay have announced that they will become the major shareholders in Sydney FC with an equal and combined shareholding of 74 per cent at the completion of the current A-League season.

Mr Ramsey said that he would like to make a long-term contribution to football in Australia.

“I would also like to involve myself in the club, personally and through my business interests, and how it engages with children to make a positive contribution to young people in the community,” said Ramsey.

Traktovenko added: “Sydney FC has the most passionate and committed fans in the A-league and is ideally placed to grow its following and performance. I am excited to become more involved with the club’s direction.”

Traktovenko is the former owner and chairman of Russian champions Zenit St Petersburg and will continue to be represented on the Sydney FC board by his son-in-law Scott Barlow.

Frank Lowy retains a minor shareholder at the club.

Published on December 9, 2008