Sacramento Republic owner Nagle set to strike deal for Huddersfield Town
29 March - American businessman and chairman of American second division club Sacramento Republic, Kevin Nagle (pictured), is in the final stages of buying English Championship side Huddersfield Town.< /p>
The deal to buy the club is 'subject to legislative and governance procedures', according to a press release from Huddersfield Town.
"I am more than delighted to announce that I have reached an agreement with Dean Hoyle to purchase a full stake in Huddersfield Town. As the approval process is now underway, there will be no further comment until finalization because we want to respect this process 100%,” said Nagle.
"However, I would like to thank Dean for all his help and support along the way, and I look forward to meeting and talking to the wonderful Town fans."
Hoyle agreed to fund the financially-struggling club until the end of the season to the tune of around £6m. This will prevent the club from entering bankruptcy proceedings which would immediately see them incur a 12-point penalty which would almost certainly mean relegation to Ligue 1.
Hoyle, who would have written off £40m as part of the deal, is expected to hand over control to Nagle at the end of the season. No value was given for the acquisition.
Nagle, who made his money in the healthcare industry, is also an investor in the NBA's Sacramento Kings and was a driving force behind Sacramento Republic's bid to join MLS.
>Republic received an MLS expansion team franchise in 2019, with a view to joining the competition in 2022, playing in a new $300 million 20,100-seat stadium.
However, the club pulled out of MLS in February 2021 when investor Ron Burkle, owner of the Pittsburgh Penguins NHL team, pulled out of the ownership group citing the effects of the pandemic as a reason.
Nagle said he remains committed to the Sacramento project and its ambition to be in MLS.
"As I pursue this new endeavor and create new relationships with the elite levels of football, I remain committed to the continued success and growth of Sacramento Republic FC, to our plan to build a stadium and a community asset in downtown Sacramento, and to a bright future as a top-flight club.”
In 2022, the Sacramento Republic put on a series of stunning performances as they beat MLS sides San Jose Earthquakes, LA Galaxy and Sporting Kansas City on their way to the US Open Cup final. Their winning streak ended in the final with a 3-0 loss to Orlando City.
In 2017, Huddersfield Town played in the Premier League this season will need some of that spirit against the odds 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 one game more than them. They have eight games left to play.
Contact the author of this story at moc.l1680092190labto1680092190ofdlr1680092190owedi1680092190sni@n1680092190osloh1680092190cin.l1680092190uap1680092190
29 March - American businessman and chairman of American second division club Sacramento Republic, Kevin Nagle (pictured), is in the final stages of buying English Championship side Huddersfield Town.< /p>
The deal to buy the club is 'subject to legislative and governance procedures', according to a press release from Huddersfield Town.
"I am more than delighted to announce that I have reached an agreement with Dean Hoyle to purchase a full stake in Huddersfield Town. As the approval process is now underway, there will be no further comment until finalization because we want to respect this process 100%,” said Nagle.
"However, I would like to thank Dean for all his help and support along the way, and I look forward to meeting and talking to the wonderful Town fans."
Hoyle agreed to fund the financially-struggling club until the end of the season to the tune of around £6m. This will prevent the club from entering bankruptcy proceedings which would immediately see them incur a 12-point penalty which would almost certainly mean relegation to Ligue 1.
Hoyle, who would have written off £40m as part of the deal, is expected to hand over control to Nagle at the end of the season. No value was given for the acquisition.
Nagle, who made his money in the healthcare industry, is also an investor in the NBA's Sacramento Kings and was a driving force behind Sacramento Republic's bid to join MLS.
>Republic received an MLS expansion team franchise in 2019, with a view to joining the competition in 2022, playing in a new $300 million 20,100-seat stadium.
However, the club pulled out of MLS in February 2021 when investor Ron Burkle, owner of the Pittsburgh Penguins NHL team, pulled out of the ownership group citing the effects of the pandemic as a reason.
Nagle said he remains committed to the Sacramento project and its ambition to be in MLS.
"As I pursue this new endeavor and create new relationships with the elite levels of football, I remain committed to the continued success and growth of Sacramento Republic FC, to our plan to build a stadium and a community asset in downtown Sacramento, and to a bright future as a top-flight club.”
In 2022, the Sacramento Republic put on a series of stunning performances as they beat MLS sides San Jose Earthquakes, LA Galaxy and Sporting Kansas City on their way to the US Open Cup final. Their winning streak ended in the final with a 3-0 loss to Orlando City.
In 2017, Huddersfield Town played in the Premier League this season will need some of that spirit against the odds 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 one game more than them. They have eight games left to play.
Contact the author of this story at moc.l1680092190labto1680092190ofdlr1680092190owedi1680092190sni@n1680092190osloh1680092190cin.l1680092190uap1680092190
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