Chinese lighting magnate Martin Lee is poised to acquire the Australian football club Newcastle Jets for about $5.5 million, according to several reports. The Herald says that an official announcement will be posted on Tuesday.

Last May, the Football Federation Australia (FFA) revoked the licence of Nathan Tinkler and took control of the club. Once the new deal is completed, Lee will become the club’s 4th owner in 11 years, following the FFA, Tinkler and Con Constantine.

Lawrie McKinna, former Central Coast Mariners coach and Gosford Mayor, will be appointed as the Chief Executive Officer(CEO).

Lee is the president and chief executive of Chinese lighting giant Ledman Optoelectronics. Ledman is the owner of Chinese lower-tier club Shenzhen Renren FC, sponsor of the Chinese Super League and title sponsor for Portugal's second division.

As stated in a report, Lee is set to “involve local companies as Jets sponsors rather than have Ledman livery on the club's shirts”.

Source: theage.com.au, daily telegraph & the herald

Proofread by Sean O Diobhilin