Conway and Lee set to hoover up profit after wrecking KV Ostend

[SBRed48]

Conway, Hung and Lee, not a firm of solicitors but owners of 38.1% of shares at Barnsley FC, look set to make "a return on their investment" at KV Ostende..

After narrowly escaping relegation last season, KV Ostende have been relegated this season. The demise followed the usual pattern of the profitable sale of the best players replaced by cheap young players, free transfers and loans.

They bought 80% of KV Ostende for 4 million Euros, putting in Gauthier Ganaye as CEO to oversee their interests. The price being quoted by Conway is around 10 million Euros to buy the club with Premier League clubs Newcastle, Wolves and Bournemouth being interested in establishing a nursery club in Europe. A profit of around 150%.

Fans will recall OGC Nice being sold for £90million after being purchased for £30million after around £30 million had been made from player trading.

KV players are seeking moves and there is significant unrest amongst the fans.

Another day, another club.

In the Emergency Share issues announced by the new board this season to keep Barnsley FC financially afloat Lee has bought up £1,864,000 worth of shares and PMG (Conway and Hung) have bought up £400,400 worth. This compares with Parekh buying up his share allocation of £2,026,600.
They famously haven't yet spent a penny of their own wealth on purchasing the club from the Crynes. I do begin to wonder when they will be looking to seek "a return on their investment" at BFC and whether other existing shareholders are in a position to buy their 38.1% share of the club, expanded in cash terms by this season's share issues.

# Conway is an Arseoyle