DONE DEAL
Scottish Premiership side’s takeover COMPLETE as American lawyer jets in for announcement
A wrangle involving the EFL and the SFA has been sorted out
ADAM WEBB will jet into Scotland this week to finalise his St Johnstone takeover.
SunSport understands the American lawyer’s deal to buy Geoff Brown’s shares is now complete and will be officially announced in the coming days.
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Webb will head for Perth to formally take charge and introduce himself to his new club.
Brown has been in talks with the Georgia-based legal high-flyer since last year and welcomed him and business partner Matthew Klase to games against Ross County and Hearts in February.
Webb liked what he saw so upped negotiations to buy the Saints owner’s 75% shareholding - with a deal agreed in principle some months ago.
Because of his involvement with English League One side Cambridge United, where he owns 10% after helping to fund a stadium buyback and a new £3.5m training ground complex, both parties had to get agreement from the English Football League and the SFA.
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Those hurdles were finally overcome last month, allowing the deal to be pushed forward in a football sense.
Webb’s takeover has now all been ratified and legal aspects concluded, allowing the purchase to take place and the club to move into foreign ownership for the first time in their 140-year history.
During Webb’s stay he will hold talks with boss Craig Levein about budgets and signing plans, while also introducing himself to McDiarmid Park staff and fans before taking in their Premier Sports Cup clash with Brechin next weekend.
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