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Safety net to secure Wellington Phoenix


Arrangements have been put in place to ensure that a New Zealand team continues to participate in the A-League.    Time is running out on property tycoon and Wellington Phoenix licence owner Terry Serepisos.   He could be liquidated by the High Court in Wellington within a month.

Following talks between Australian and New Zealand football bosses, a 'safety net' has been put in place to keep Phoenix in the A-league indefinitely.     There is a question mark, however, about how long New Zealand Football can bankroll the club.   At some point a new private owner would be essential.  There have been expressions of interest, but it is difficult to tell how serious these are.