Barnsley confirm takeover by Chinese billionaire
A consortium led by Chinese businessman Chien Lee has completed a takeover of Barnsley.
Lee is also an investor in French Ligue 1 side Nice and will be joined on the board at Oakwell by Paul Conway, Grace Hung, Neerav Parekh and former baseball general manager Billy Beane.
The takeover ends Patrick Cryne's 13-year spell as owner. Cryne, who has terminal cancer, wrote a letter to fans in September to say he was "living on borrowed time".
A club statement said "The Cryne family have been in discussions regarding a potential takeover of Barnsley Football Club for the last few months with an investor consortium led by Chien Lee of NewCity Capital and Pacific Media Group, which is led by Paul Conway and Grace Hung.
The best interests of Barnsley Football Club and its fans have always been at the forefront of everybody’s minds and the Cryne family is now happy to officially announce that a deal has been agreed between all of the parties.
The Club have gained English Football League approval for the change in majority shareholder and our new shareholders have now taken up their positions on the board of Barnsley Football Club."