Sport

Walsall plans a huge investment as a multi-million US investment firm taking over the club while the League Two side confirm the deal

WALSALL has announced that an American investment group has acquired a majority stake in the club.

Club chairman Leigh Pomlett, who owns 76% of the shares as of 2019, transferred 51% to Trivela Group LLC after a year of discussion.

Trivela Group LLC now owns a controlling interest in Walsall FC

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Trivela Group LLC now owns a controlling interest in Walsall FCPhoto credit: Getty
Leigh Pomlett has transferred 51% of his shares to the American investment company

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Leigh Pomlett has transferred 51% of his shares to the American investment companyPhoto credit: Getty

The Saddlers announced the acquisition in a statement on their official website Monday morning.

It read: “Walsall Football Club (WFC) is pleased to announce that it has completed a transaction to take a controlling interest in the club’s stock from Leigh Pomlett to Trivela Group LLC, a sports investment firm based in Birmingham, Alabama, USA , transferred to.

“The parties have been in talks for about a year and have agreed on a transaction that will take place in two phases.

“In Phase 1, conducted last week, Trivela acquired 51% of WFC shares and brought additional capital directly into the club for strategic investments.

“In Phase 2, which will take place over two years, Trivela will acquire an additional 25% interest from Leigh Pomlett and provide additional resources to enable the club to execute its existing purchase option for Poundland-Bescot Stadium and the surrounding property.

“Facilitating and completing the acquisition of ownership of the stadium is a top priority for the new ownership group.”

Trivela Group is an Alabama-based American sports investment firm working towards a multi-club ownership model in global football.

Founded last year, the company is owned by Kenneth Polk and Benjamin Boycott, who will join Walsall’s board of directors and serve as co-chairman with Pomlett.

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To ensure a smooth transition, Pomlett has agreed to remain chairman for an additional four years.

The lifelong Walsall fan has insisted Trivela Group will help take the club forward in the future.

He said: “This partnership with the Trivela Group marks a very positive chapter in the history of Walsall Football Club.

“Stefan Gamble (Chief Executive) and I have had discussions with them for almost 12 months, visited them in the United States and believe they are the right group with the right vision to move the club forward.

“Fans will have the opportunity to see the impact of this partnership firsthand as Saddlers Club undergoes a refurbishment and reopens and the club exercises its option to buy and reunites with the property of Poundland Bescot Stadium.

“As Chairman and Supporter, this is a very exciting day for Walsall Football Club.”

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Boycott said he made the decision to buy the stake because he was “pulled by the passion” of the fans and the club’s rich history.

The Saddlers finished 16th in the League Two table last season but fans are hoping the new investment will help them spur promotion in the near future.

https://www.the-sun.com/sport/5499457/walsall-millionaire-us-investment-takeover-league-two/ Walsall plans a huge investment as a multi-million US investment firm taking over the club while the League Two side confirm the deal

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