Two former directors at Barnsley FC have been fined by the EFL for failing to disclose the full details of their proposed ownership structure when applying to acquire the club in 2017.
An independent Disciplinary Commission found that Paul Conway and Chien Lee failed to properly disclose a private investment agreement they concluded shortly prior to their purchase of Barnsley in 2017. The agreement was not disclosed to the League until January 2022.
It follows a previous investigation into matters by the League, which resulted in the club being charged with various breaches of EFL Regulations, said to have been caused by Conway and Lee, who also received charges.
Barnsley FC accepted the charges and the League entered into an approved decision on 4 July 2024, with no further action to be taken against the club, other than contributing to the League’s legal costs of the proceedings.
It was acknowledged that the club co-operated throughout and promptly notified the League upon its discovery of the investment agreement in 2022.
The Commission found that it was the actions and/or omissions of Conway and Lee which caused the club to breach its obligations to the League.
Alongside the financial penalties of £100,000 for Conway and £75,000 for Lee, both were warned as to their future conduct.
A statement from the EFL said: “The sanctions demonstrate the critical importance of the League being provided with the information it needs to determine the suitability of Owners’ and Directors’, as well as those who seek to control and manage the affairs of the Club, and the financial viability of a proposed acquisition.”
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