American lawyer and Cambridge United shareholder Adam Webb will arrive in Scotland early subsequent week to develop into the brand new proprietor of St Johnstone.
An settlement was reached earlier this 12 months for Webb to purchase Jeff Brown’s stake in McDiarmid Park and all facets of that deal have now been accomplished.
The takeover was topic to EFL and SFA approval – as a result of Webb’s 10 per cent stake in Cambridge United – given the inexperienced gentle final month.
Geoff Brown, who purchased the Saints in 1986, introduced he was promoting his controlling stake in December 2022, across the similar time as his son Steve stepped down as chairman.
The Brown household have held a majority stake within the membership for nearly 4 a long time, with Geoff, 81, authorizing the transfer from Muirton Park to their present dwelling, MacDiarmid Park, shortly after taking management within the Eighties .
In addition to transferring to a brand new stadium, St Johnstone gained their first three main trophies, competed in European soccer and loved their longest keep within the prime flight underneath Brown.
In placing the membership up on the market, Brown stated the “internet proceeds” of the deal would go in the direction of constructing a group middle for the St Johnstone Group Belief.
Different American House owners in Scotland
The deal will make St Johnstone the fourth US-owned prime division membership.
Hibernian is owned by the Gordon household, with the late Ron Gordon taking a majority stake in 2019. One other American, Invoice Foley, owns 25 p.c of the membership after his funding was accepted in March.
Dundee is owned by American businessman Tim Keyes, whereas metropolis rivals Dundee United are owned by Mark Ogren.
Motherwell are additionally in talks with US traders – nonetheless that deal is just not but full.