Southampton: Telecommunications businessman Dragan Solak completes £100m takeover of Premier League side
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Updated 04/01/2022 at 19:37 GMT
Southampton are the latest Premier League club to change hands from one overseas investor to another. Chinese businessman Gao Jisheng has relinquished his 80 percent controlling stake in the south coast club after Serbian-born telecommunications businessman Dragan Solak bought out his Southampton shareholding.
LONDON, ENGLAND - OCTOBER 02: James Ward-Prowse of Southampton celebrates after scoring their side's first goal from the penalty spot during the Premier League match between Chelsea and Southampton at Stamford Bridge on October 02, 2021 in London, England
Image credit: Getty Images
Southampton have announced that Serbian-born businessman Dragan Solak has completed a takeover of the club worth £100 million.
Solak founded the telecommunications company United Group, and now has a controlling interest of 80% of the Premier League club.
The stake is owned through Sport Republic and sees Chinese businessman Gao Jisheng relinquish his holding acquired in 2017.
Katharina Liebherr continues to own 20 percent of the club.
A club statement confirmed: "Southampton Football Club can today confirm that Sport Republic has completed the acquisition of a controlling stake in Southampton Football Club.
“Sport Republic is an investment firm in the sports and entertainment industry. They have purchased the shareholding of the club held by Mr Gao and will work in partnership with Katharina Liebherr who retains her minority shareholding.
“Everyone within the Southampton community would like to wish Mr Gao and his family well for their future."
Solak said: "My partners and I have experience in long-term investments in the sports and entertainment industry and Sport Republic has been founded to combine this expertise and deliver something unique to the market.
"Southampton has so many of the qualities we have been looking for in a major sports organisation. It has a great management team, excellent talent development, talented teams playing attractive football and a dedicated fan base.
"We are delighted to be able to complete this acquisition as a first step towards execution of our investment strategy. Southampton will be a cornerstone of the organisation we plan to build."
The Premier League have greenlighted the takeover, the first since a Saudi Arabia-led investment consortium took over Newcastle United.
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