October 8, 2021

Wawonesa Insurance have announced that they have agreed to buy the Wawsans’ shares in the club for the value of their assets.

The move is one of a number of announcements from the former Wawsan owners this week as they continue their rebuild in a bid to stay competitive with rivals.

The Wawsians will receive a total of $3.5m (£2.7m) from the deal, with $2.2m from their investment in the former Socceroos academy. 

The move comes after the WAWSans’ owners, Michael and Laura Westwood, made an initial bid of $2m last September but were unsuccessful in securing approval from the Australian Securities and Investments Commission (ASIC) to proceed.

WAW’s board, however, have indicated that they will now be looking to increase their stake in the team, which is set to sell for around $6.8m. 

“I’m also excited to announce that our two board members, Laura and Michael Westwood will be investing $1.1m each into WAWsA, which will support a further two years of investment.””

Wawesa chairman, Michael Westland, also told TalkSPORT: “I would like to thank the Wabsens for their support and we wish them every success in the future. “

I’m also excited to announce that our two board members, Laura and Michael Westwood will be investing $1.1m each into WAWsA, which will support a further two years of investment.”

Read more: Wawias chief executive: I can’t wait to see the Wawanas new home”

We would like them to know that they can count on our investment in WAW.”

Read more: Wawias chief executive: I can’t wait to see the Wawanas new home

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