JAGS CHIEF SEEKS SFA PERMISSION FOR SALE TO LEE

PARTICK THISTLE chairman David Beattie has sought the sFA’s permission to sell the club to the wealthy owners of Barnsley.

Sportsmail understands the process began last Thursday, with the governing body seeking further details of the plan before considering the matter at board level.

Chinese-American billionaire Chien lee and American businessman Paul Conway are co-chairmen of the english Championship club, in which their NewCity Capital investment firm hold an 80-per-cent stake.

They now want Beattie and a group of Thistle shareholders to sell them a 55-per-cent stake in the Glasgow club.

Meeting fans’ groups on Monday night, Beattie promised a big announcement at the club’s AGM next Thursday, but declined to offer further details.

With negotiations at an advanced stage, the potential buyers and sellers must now overcome resistance to dual club ownership by the football authorities on either side of the border.

english Football league rules prevent one club — or individuals in charge of a club — controlling or having a major say in another British side without written consent. The rules also state that no club may be a ‘nursery club’ for another.

The eFl refuse to discuss transactions involving individual clubs and, to conclude a deal, Thistle must also obtain sFA clearance.

Newcastle owner Mike Ashley obtained sFA permission to take a ten-per-cent financial stake in Rangers but faced charges from the governing body when he tried to install his own directors on the Ibrox board.

Beattie and chief executive Gerry Britton met with concerned representatives of the Jags Trust, the PTFC Trust and Thistle For ever on Monday night.

Putting together a rival community ownership offer for the 55-per-cent holding, Thistle For ever hope to persuade former investor and lottery winner Colin Weir to back their plans.

A statement from the fan ownership group detailed talks with the Jags’ board yesterday.

It read: ‘Mr Beattie confirmed dialogue was ongoing between Partick Thistle and the scottish Football Association regarding the proposed takeover by a consortium involving representatives of private investment company NewCity capital.

‘The focal point of these discussions appears to be the dual-ownership issue.

‘Mr Beattie also confirmed Barnsley FC will be responsible for making representations to the relevant footballing authorities in england.

‘Mr Britton suggested that NewCity Capital has prepared a document outlining its approach to football investments, which we have requested a copy of.

‘Mr Beattie also stated that he would ask representatives of the consortium to meet with trustees of the two supporters groups if a deal is agreed, but before it is finalised.

‘While the meeting was not revelatory, it was welcome and useful. We believe it demonstrates that even though the wheels of the takeover remain in motion, the chairman and the club’s board of directors are taking our proposals seriously.

‘We have offered to draw up a detailed plan for their consideration.’