Stellar-powered The London Football Exchange, has revealed it is acquiring the largest shareholding in A-League club, Perth Glory FC.

LFE Football Group said it entered into an asset sale and purchase agreement to acquire a majority shareholding in Perth Glory.

The acquisition by the United Kingdom crypto group was first announced by the club owner, Tony Sage, who said the purchase is very close to the final stage.

The majority of Sage’s stake in the A-League club is to be sold to the London Football Exchange, however, the heritage of the club which includes its name and colours among other things shall not be tampered with, Sage told Perth Glory’s fans, claiming he waited for a deal that will protect Perth Glory’s heritage, a club he acquired in 2009.

The founder said he lost a huge $2.9 million last year, notifying Perth Glory F.C. fans that he received four offers within 18 months but turned them down due to some unfavorable conditions attached to the offers.

Sage said the Stellar-powered startup is looking to buy different clubs around the globe. The London Football Exchange brags as the world’s maiden football club stock exchange that gives investors, traders and fans the opportunity to acquire shares.

A-League is Australia’s highest-level professional men’s soccer league. At the moment, Perth Glory FC stays on the third position in the league.

Jim Aylward, Founder and board advisor of the London Football Exchange, who also spoke on the acquisition deal said the acquisition announcement signals that the London Football Exchange is up to something great.

He said LFE is building an ecosystem that will result in the tokenization of Football clubs across the world.