Glory reaches agreement over club's sale

London Football Exchange founder Jim Aylward insists he's not buying Perth Glory simply to strip the A-League club of its assets.

Perth Glory chief executive Tony Pignata has batted away concerns the potential new owner of the A-League club is "dodgy".

Glory owner Tony Sage has reached an agreement with UK-based blockchain trading firm London Football Exchange (LFE) to sell a majority stake in the club.

Sage says the firm will be buying 80 per cent of Perth Glory while he will retain 20 per cent and stay as chairman.

The sale is subject to FFA approval but LFE founder Jim Aylward said it was the first step in the company's ambitions to acquire at least seven professional football clubs worldwide.

News of the potential deal has met widespread criticism, with fans and experts alike worried LFE might not be able to carry through on its promises.

Vision of Aylward decked out in a gangster-style puffy jacket while announcing the ownership bid on Twitter also stoked fears.

Aylward also gave a train-wreck of an interview on Perth radio station 6PR on Thursday in which he failed to outline the exact payment method he plans to use to buy Perth Glory.

But Pignata says he has full faith Sage has done his homework and that the deal will be a good thing for Glory.

"I don't think Jim's dodgy-as," Pignata said.

"If you hear him speak, he's very passionate about the game. He's a founder of a football exchange. They've been operating for a couple of years.

"I trust Tony. He loves Perth Glory more than his family ... and he wouldn't do anything to jeopardise the club."

Founded in 2016, LFE has ambitions about creating a trading system using a cryptocurrency token which people can use to purchase shares, merchandise, tickets or experiences direct from football clubs.

In a statement the company said it raised $US70m via a digital token offering in 2018 and launched its LFEC token on leading cryptocurrency exchanges.

As well as retaining his Glory chairman's role, Sage will be the LFE football group's chairman with control of any club the company acquires.

Alyward was vague when asked how exactly his company plans to buy Perth Glory - or any other club.

"It could be a mix of debt, it could be forward selling of a football club's season ticket receivables, it could be equity," he told 6PR.

"I will say the FFA have already approved the preliminary funds that we have put forward so they are happy with how this deal has been funded.

"The FFA wouldn't approve a deal like this if they didn't already know we had enough funds to take that business through at least the next three to five years."

LFE attempted to buy first-division French outfit FC Nantes last year but the offer was knocked back after the club said the company couldn't provide minimum bank guarantees.

During his fumbly radio interview, Aylward denied his company was buying Glory simply so it could strip its assets.

"What assets could I strip out of Perth Glory?" he said.

"Don't try to create some thing that's sensational. All we're here (to do) is to invest and bring that club forward."

An FFA spokesperson told AAP Sage had been keeping the governing body updated.


AAP