Identity of prospective new owner confirmed at Championship rivals of West Brom and Birmingham City
Huddersfield Town have confirmed the identity of their prospective new owner following an agreement to sell the club last week.
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American businessman, investor, and Sacramento Republic Football Club CEO and owner Kevin M. Nagle has been confirmed as the prospective new owner of Huddersfield Town.
Nagle has now been confirmed as the new backer of the club, who are facing relegation from the second tier.
Nagle commented: “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 finalization, as we wish to 100% respect that process.
“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.”
The Terriers had been put up for sale after chairman Hoyle decided to step back from his role as chief executive due to health reasons.
He initially took control at the John Smith’s Stadium in 2009, and oversaw the club’s promotion to the Premier League in 2017 as they beat Reading on penalties in the play-off final at Wembley.
In 2019, Phil Hodgkinson purchased a 75 per cent stake in the Terriers but after a number of his businesses went into administration at the end of 2021, he stood down as chairman in early 2022.
Hoyle returned to provide financial assistance, as he still held the remaining 25 per cent of shares. Huddersfield last confirmed Hoyle had acquired the 75 per cent of shares to allow a deal to go through with Nagle.
Huddersfield had been facing the threat of administration but Hoyle will reportedly write off around £40m which is owed to him as part of the takeover terms.
Hoyle will also continue to fund the club, for a reported price of £6m, which he will be repaid by the new owners once a takeover is fully completed.
The Terriers are nine points behind Birmingham City in the Championship table and faced a 12-point deduction if they entered administration.