A consortium of high profile Wellington business people are ready and waiting to take over the Phoenix if Terry Serepisos sells up.

A group of prominent Wellington businessmen, including Kiwibank board member Rob Morrison, are understood to be behind a consortium ready to pick up the Phoenix, if Serepisos falls under the weight of $200 million of debt.

Wellington City Councillor John Morrison is unwilling to confirm names, but says the group is ready and Football Federation Australia is in the loop.

Morrison says the FFA knows there are significant backers, ready to step in.

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Morrison says everyone knows Serepisos is in trouble, but everyone wants to see the Phoenix continue in Wellington.

- NEWSTALK ZB