St Johnstone takeover ‘agreed’ as American Andrew Webb set to replace Geoff Brown at McDiarmid Park helm
dailyrecord.co.ukAmerican money man Adam Webb is set to buy a controlling stake in St Johnstone.Saints owner Geoff Brown has been locked in talks with the Georgia-based lawyer for some time and now they have thrashed out a deal that will see Webb snap up 75 per cent of shares in the McDiarmid Park outfit.
Webb, who also owns a 10 per cent stake in Cambridge United, was in Perth back in February to see Craig Levein's side take on Ross County and Hearts alongside business partner Matthew Klase.As well as talks with Brown, he also sat down with Levein to talk football and what the club would require going forward to compete in the Scottish Premiership.
The deal still needs approval from the Scottish FA and English Football League given his involvement with Cambridge, but that is expected to be ratified without any issues.
Newly registered company Saints in America will be the vehicle used to complete the takeoverSt Johnstone posted a £1.5million loss in last year's annual accounts and are set to record another this year.
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