MELBOURNE Heart has rejected a multi-million dollar takeover bid from a Chinese businessman based in Shanghai.
The A-League club's name, colours, staff and training base would have stayed the same while home games would have continued to be played at AAMI Park, but Heart's major shareholders are committed to a long-term future in the game.
It is understood the interested party made a bid of about $9 million for a 100 per cent stake.
But after making several failed takeover attempts in recent times, the businessman will withdraw his interest.
Heart chief executive Scott Munn said Monday the club was not for sale and the board was "not entertaining" offers from any Chinese consortium.
This comes just months after Heart knocked back three takeover bids from former National Soccer League powerhouse South Melbourne, the last of which, in August, was worth a reported $7 million.
And last month Heart chairman Peter Sidwell was forced to deny that the consortium behind the purchase of NRL club Melbourne Storm was looking to take a controlling interest.
In its three full seasons, Heart has averaged home crowds of 8312, 9082 and 8560 and in three home games this season it has recorded a competition-low average of 8582.
Heart shareholders are understood to have tipped in a collective amount of$1.5 million during last season and in May Munn told the Herald Sun the club had been in talks with interested parties from the Middle East and Europe.
As a privately owned company, Heart's financial results are confidential and not required to be released publicly, but in a statement after last season it said it had made a small profit.
The board's determination to stay the course with Heart is a positive development for embattled coach John Aloisi.
Despite a winless start to the season and, including last season, a streak of 11 matches for nine losses and two draws, Heart's board members are committed to retaining the Socceroos great, who has a year and a half to run on his contract.
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