NO RASH SPEND BY NEW TYKES’ OWNERS

BARNSLEY’S new owners say they are not going to go crazy but have promised to gradually increase the club’s financial power.

A high-profile midweek takeover saw billionaire Chinese investor Chien Lee and American Paul Conway buy a majority share in the club.

The deal also involves Billy Beane, the pioneer of the ‘Moneyball’ stats-based strategy used in baseball, purchasing a ten per cent stake and likely a seat on the board.

Conway said: “We want to stabilise the team in the Championship and deepen the squad. You will see a growth in resources and revenue increase year after year.

“We believe we can make improvements, but we will take our time. We’re not going to go crazy.”

The new owners have also backed manager Paul Heckingbottom, who has impressed since taking the reins in 2016 and supports the new owners’ vision.

He said: “These are exciting times. However, we’re not going to go out and start splashing cash.

“It will enable us to hold on to our better players moving forward, to build a team that can be successful. I can only see this being the right deal for Barnsley.”

After selling the consortium a majority share, long-time owner Patrick Cryne, who has revealed he has terminal cancer, retains a 20 per cent stake.

This is not a first foray into club ownership for Conway and Lee. In 2016, they bought French side Nice, who last season reached the Champions League qualifiers for the first time in their history.

Barnsley’s incoming owners will be looking to transform the Tykes’ fortunes after spending an estimated £10-20m on the South Yorkshire club.

Conway said: “Similar to our investment in Nice, we expect to further enhance the academy, playing squad, commercial operations and fan experience.”