8 May 2009

Football Australia assumes ownership of Adelaide

5:43 pm on 8 May 2009

The Football Federation of Australia has assumed ownership of a second top-flight club as the global financial crisis continues to impact on the fledgling domestic competition.

Adelaide United, last year's Asian Champions League finalists, handing over ownership of the club to the national body on Friday because of financial problems.

The FFA's agreed to take over the running of Adelaide after the owner Nick Bianco announced in February he was withdrawing his investment due to external business reasons.

The FFA chief executive Ben Buckley says the governing body agreed to the bailout to ensure the survival of Adelaide but eventually hoped to find a new owner.

Adelaide joined the Queensland-based Brisbane Roar as the second of the eight foundation A-League teams to hand over their running to the FFA in the past month.

The handovers come at the same time the A-League is preparing to expand to 10 teams but FFA officials remain confident about the viability of the competition.