Businessman Kevin M. Nagle has completed his takeover of Huddersfield, making the Club the 26th in the English football pyramid to have American investment.
The Terriers announced on Thursday evening that Nagle’s agreed purchase had been ratified by the relevant authorities to give him 100 per cent ownership of shares in the Championship Club.
Nagle’s deal, via his company Town FC LLC, with former chairman Dean Hoyle received the approval of the English Football League and the Financial Conduct Authority.
Huddersfield is now the eighth Championship club with American backing.
‘I am extremely humbled and excited to be the new steward of Huddersfield Town,’ said Nagle, who is the owner of the California-based USL Championship Club Sacramento Republic FC.
Businessman Kevin Nagle has been announced as the new owner of Huddersfield Town
Former chairman Dean Hoyle stepped back in last year to save the club from administration
‘I would like to thank Dean Hoyle, Dave Baldwin, the EFL, and FCA for all their help and attention to detail over the past few months.’
Nagle added on the Huddersfield website: ‘A special thanks to the wonderful Town supporters who have also been so supportive and patient.
‘I know how deeply they care for this club, and I do not intend to let them down. Now let’s get to work.’
Nagle, 68, was born in Minnesota and was the co-founder and CEO of Envision Pharmaceuticals.
Huddersfield survived in the Championship under Neil Warnock at the end of last season, finishing 18th, and the veteran manager recently agreed a one-year extension to stay on again for the new campaign.
The conclusion of the takeover ends Hoyle’s 14-year association with the West Yorkshire club.
Hoyle had stepped back in as a short-term measure to save the club from administration after former owner Phil Hodgkinson ran into financial difficulties.
‘It bodes well that Kevin was prepared to take the reins regardless of divisional status, but to pass the baton as a Championship club gives the new regime solid foundations on which to build,’ Hoyle said.
Neil Warnock kept the club up as the Terriers finished in 18th place with 53 points
‘It has been a privilege to be your chairman. What a ride – from a mid-table League One team to reaching the Premier League, with many highs and lows in between.
‘A special mention and a big thank you to those many fans who have made me and my family welcome over the years and, more importantly, have been supportive when times have been tough, none more so than the last 18 months after I had to step back in and provide serious financial support to the club.
‘Now I’m sure, as fans, we can all look forward to an exciting period of progression on the pitch and, as importantly, a continued period of financial stability off the pitch.’
Huddersfield will begin its season on August 5 away from home against Plymouth Argyle.
