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Melbourne Heart owners reject takeover bid

Melbourne Heart owners reject takeover bid


The owners of Melbourne Heart have insisted the Australian A-League club is not for sale after South Melbourne, which competes in the Victorian Premier League, submitted a takeover bid for the outfit.

According to the Courier-Mail newspaper, the offer included cash and shares plus relocation to the Lakeside Stadium, which South Melbourne currently shares with Athletics Victoria. The bid was immediately rejected by the club, and the Heart chief executive Scott Munn said that two other offers from overseas investors in recent months had also been turned down.

“We’ve made it very clear we have no interest in taking their offer any further,” Munn said. “We’ve been approached this year a couple of times, from the Middle East and a European consortium. Those conversations were quite open and transparent but we made it very clear that there were some non-negotiables and one of them is that the founding owners always want to retain control.”

Munn added: “We’d love to invest more in areas such as marketing, advertising and most importantly the footy department. We can sustain a club, we can post a small profit and that puts us in an enviable position for investors, knowing they won’t have to reach into their pocket each year.”