16 Apr 2011

New NZ Football boss rules out Phoenix shares

12:50 pm on 16 April 2011

New Zealand Football's new chief executive Grant McKavanagh has ruled out buying a stake in the Wellington Phoenix despite the well publicised financial troubles of the club's owner Terry Serepisos.

McKavanagh, who takes over from outgoing CEO Michael Galding in May, says he's inherited the role at the best time possible following the All Whites' achievements at the World Cup - and he says the Phoenix are vital in the continued development of the sport in New Zealand.

He says New Zealand Football will do whatever it can to ensure the future of the Phoenix but ruled out buying into the club.

McKavanagh says the Phoenix is a professional club and it should remain privately owned.