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Barnsley a success story for American owners

American investors need not be bad news as the example of play off contestants Barnsley shows.   A consortium led by financier Chien Lee bought the club in December 2017   .Fellow investors include Billy Beane, the baseball executive who invented the data-driven Moneyball system celebrated in a film of the same name.

The club must live within its means, with turnover about £10m this year. This is in a league where the average wage bill is £33m and the 24 clubs racked up combined operating losses of £382m last season, according to Deloitte.  

Lee and his co-investor Paul Conway had success at Nice in France before Barnsley. They have sold that club but built a portfolio across Europe.  Through Pacific Media Group, an advertising business, they own KV Oostende in Belgium, FC Thun in Switzerland and AS Nancy in France, with each performing better than when acquired.

Chien Lee told the Financial Times: “We feel we can do something meaningful using our vision and expertise. We are long-term investors. If we get into the Premier League the value of the club will go up. We are ahead of schedule.”

Paul Gallacher, 47, of Barnsley Supporters Trust, speaking to the Pink 'Un said the owners, who took over from local software entrepreneur Patrick Cryne, have kept their promises. “They have not thrown money at the Premier League dream. They have not saddled it with debt. They invest in the club, build slowly.”

“The worry is when the next owner comes along. What they would bring? Getting into the Premier League would be a good point to sell. That worries a lot of fans.”

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