Melbourne property developer buys Perth Glory

Mr Brij’s latest purchase comes four months after Primeland acquired one of Melbourne’s best-known boutique hotels, the Brighton Savoy, with plans to redevelop the prime Bayside site into a $120 million mix of luxury apartments and townhouses.

Primeland, which began in 2017, runs a range of projects including a 123-hectare former GM Holden car assembly factory in Adelaide acquired by developer Ross Pelligra in 2017, a boutique hotel development in East Melbourne and a 160-room Holiday Inn in Richmond.

The terms of the deal are unclear, but sources close to the APL say it typically costs between $50 million and $60 million to fund a club over a five-year period and about $20 million to secure a licence.

K&L Gates and KordaMentha were advisers on the deal. For Perth Glory, which is days from kick-off for the latest A-League men’s season, the deal is a welcome reset that could put an end to a difficult five years.

The impact of COVID-19 and a home ground relocation during the upgrade of HBF Park are among the reasons for the club’s financial troubles. In June, Perth Glory’s head coach Ruben Zadkovich resigned after just one full season.

That season led to an exodus of squad members – 13 headed for the door – including young star Keegan Jelacic, defender Jack Clisby and goalkeeper Liam Reddy.

Mr Sage said in July that club had been like “his fourth child”, but claimed he could not keep supporting the team financially and handed back the licence.

“I have always maintained that everything I do is in the best interests of the club and that commitment underpins this decision,” he said at the time.

A recent report by KordaMentha to the Australian Securities and Investments Commission said the Glory’s debts were at $40m, including $4.5m to A-League governing body Australian Professional Leagues Company and $33.6m to Mr Sage’s company, Okewood.

Primeland was among a group of parties interested in acquiring the Glory, according to sources, with some reports linking Victorian property developer Mr Pelligra, who owns Italian Serie C side Catania FC, and fast food entreprenuer Nick Tana to a potential deal.

Mr Brij has done multiple development deals with Mr Pelligra. According to his LinkedIn profile, Mr Brij is also the chief executive of Singapore-based private equity and sports management firm Base2 Capital.

APL CEO Danny Townsend said the interest during the bidding process showed the opportunity for football in Western Australia.

“We are grateful to the Western Australian Government for its strong support during this transition period and into the future,” Mr Townsend said. The news comes a week after Bill Foley, owner of EPL side Bournemouth, was revealed as the preferred bidder for a new A-Leagues club in Auckland, which is expected to join the competition next year.

The sale of the Glory is subject to regulatory approval by Football Australia.