August 12 – MK Dons have officially transitioned to new ownership under a Kuwait-based consortium, marking the end of Pete Winkelman’s 21-year tenure as the club’s owner.
Winkelman, who was instrumental in the club’s rebranding in 2004 following Wimbledon FC’s controversial relocation to Milton Keynes from south London, oversaw a rise to the Championship under the club’s new name and the opening of a new 30,000 capacity stadium, before dropping back down the leagues.
Winkelman steps aside as the club finds itself in need of significant investment after its fourth-placed finish saw it miss out on promotion and condemned to another season in League Two.
The consortium set to take over the reins, led by Kuwaiti businessman Fahad Al Ghanim, has pledged to make MK Dons debt-free, signalling a new era of financial stability and ambition for the club. No value was given for his investment.
“I believe I’ve done the right thing, I believe I’ve found the right people to carry on the work, to reignite the dream. My head knows this is the right thing to do, but my heart is breaking,” Winkelman said.
“These are powerful people with global interests, and football is a global business, it’s an expensive business and it was getting ever harder for me – and I didn’t build this stadium to own a football club in the lower leagues.
“I’d rather not own any of it and see Milton Keynes in the Premier League one day. That’s what the ultimate ambition comes back to, but they are very sensible people, they’re going to take it step by step and the first task is to get the team into the next league.”
Al Ghanim, whose family own Kuwait Premier League champions Kuwait SC, said: “Our first focus will be on strengthening the first team squad to give the club the best chance of promotion this season.
“I fully believe the team are in a great place, I’m not looking to disrupt the fantastic work done over the summer, if anything, I want to add to it.”
The Dons opened their league season with a disappointing home loss to Bradford on Saturday. They face Watford away in the first round of the League Cup on Tuesday night.
Contact the writer of this story, Harry Ewing, at moc.l1731703012labto1731703012ofdlr1731703012owedi1731703012sni@g1731703012niwe.1731703012yrrah1731703012