Perth Glory owner Tony Sage says even he is unsure whether the cryptocurrency football model will work, and insists he is yet to decide whether to go ahead with the deal to sell the club to London Football Exchange.
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Sage's plan to sell the A-League club to the bitcoin investment group has generated a wave of criticism and widespread concern.
Glory released a statement on Thursday confirming the club had entered into an "asset sale and purchase agreement" with LFE.
The only obstacle at that point seemed to be Football Federation Australia, who needed to approve the deal.
Under the terms of the contract, LFE would buy an 80 per cent share of the club, with Sage retaining 20 per cent.
But it seems Sage, who was named LFE chairman in January, has now given himself plenty of wriggle room to pull out of the deal.
Sage denies a deal had already been agreed upon, saying he only signed the terms to be agreed upon, rather than the actual sale of the club.
The mining millionaire says he will only make a decision after spending time with the company's founder Jim Aylward in London this weekend.
"Any new concept that people don't get, we are all sceptical, same with me," Sage wrote from Zurich.
"Hence my trip to London for three days to check them out.
"Remember, (facebook founder) Mark Zuckerberg was also laughed at and ridiculed when Facebook started.
"The whole blockchain crypto world was supposed to be dead six years ago but it thrives.
"I don't get it myself but it does seem to work. LFE's concept is brilliant, but will it work? I don't know.
"That's why I am spending three days with their team in London with independent experts."
Sage says he will kill the deal if he discovers it's not a good fit for Glory.
The long-serving Glory owner said he only told the club's staff about the potential deal earlier this week for fear it would leak while he was overseas.
"If (Perth Glory) do sign up nothing changes at Perth Glory other than with that extra funding we will be able to compete with the bigger clubs in Australia and Asia," Sage said.
If Sage is satisfied with the LFE deal, he will send the paperwork to FFA for a final tick-off.
The uncertainty over the club's future is an unwanted distraction for Glory as they prepare for their Asian Champions League debut.
Glory players will fly out of Perth on Saturday ahead of Tuesday's clash with FC Tokyo in Japan.
Australian Associated Press
