After these events, the FFA granted a provisional competition licence for New Zealand Soccer to sub-let to a suitable, New Zealand-based team to take the place left vacant by the defunct Knights. After much delay from both the FFA and NZS, Wellington property magnate Terry Serepisos was selected as the owner of the new franchise. The team, eventually named Wellington Phoenix FC, would be based at Wellington's Westpac Stadium and coached by Ricki Herbert.