Ledman fueling Jets deal

China's Ledman Group announced on Wednesday in Beijing the company has finalized a 100 percent takeover of the A-League's Newcastle Jets FC - the first major Chinese investment in the 11-year history of the Australian circuit.

Ledman Group president Martin Lee has reportedly bought the Jets for $4.1 million. The team had been owned and operated by the Football Federation of Australia (FFA) since mid-2015, after former owner Nathan Tinkler's license was terminated.

Lee has indicated he wants to get the Jets back in the AFC Champions League within a few years, and that he would like to have at least one Chinese player join the team, which is currently preparing for a preseason tour of China in the summer.