March 29 – US businessman and chairman of second tier US club side Sacramento Republic, Kevin Nagle (pictured), is in the final stages of buying English Championship side Huddersfield Town.
The agreement to buy the club is “subject to legislative and governance procedures”, according to a Huddersfield Town press release.
“I am beyond pleased to announce I have entered into agreement with Dean Hoyle to purchase a full stake in Huddersfield Town. As the approval process is now under way, there will be no further comment until finalisation, as we wish to 100% respect that process,” said Nagle.
“I would however like to thank Dean for all his help and support along the way, and I cannot wait to meet and speak to the wonderful Town fans.”
Hoyle has agreed to fund the financially challenged club until the end of the season to the tune of about £6 million. That will prevent the club from entering bankruptcy proceedings which would see it immediately incur a 12-point penalty that would almost certainly mean relegation to League 1.
Hoyle, who is understood to be writing off £40 million in the deal, is expected to hand over control to Nagle at the end of the season. No value has been given for the acquisition.
Nagle, who made his money in the healthcare business, is also an investor in NBA side Sacramento Kings, and was a driving force behind Sacramento Republic’s bid to join the MLS.
Republic were awarded an MLS expansion team franchise in 2019, with a view to joining the competition in 2022, playing at a new $300 million 20,100-seat stadium.
However the club pulled out of joining the MLS in February 2021 when investor Ron Burkle, owner of NHL team Pittsburgh Penguins, withdrew from the ownership group citing the effects of the pandemic as his reason.
Nagle said he remained committed to the Sacramento project and to its ambition to be in the MLS.
“As I pursue this new endeavor and build new connections to elite levels of football, I remain committed to Sacramento Republic FC’s continued success and growth, our plan to build a stadium and community asset in downtown Sacramento, and bright future as a topflight club.”
In 2022 Sacramento Republic pulled off a series of giant-killing performances beating MLS sides San Jose Earthquakes, LA Galaxy and Sporting Kansas City on the way to the final of the US Open Cup. Their winning run ended in the final with a 3-0 loss to Orlando City.
In 2017 Huddersfield Town played in the Premier League bit this season will need some of that against-the-odds spirit shown by Sacramento Republic if they are to avoid relegation to League One.
The Terriers are in the relegation zone and three points behind fourth-from-bottom Cardiff City, having played a game more than them. They have eight games left to play.
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