There's been a raft of changes at Peterborough United this week, the latest being owner Darragh MacAnthony's decision to sell 50% of his share in the club.
Hot on the heels of bringing in Steve Evans as manager, MacAnthony has announced changes to the ownership structure, with Dr Jason Neale and Mr R Stewart Thompson coming in as co-owners. They've bought into the club via a company, Kelgary Sports and Entertainment and both will serve on the club's board as directors with immediate effect.
"This is banner news for the football club, its staff and for the city of Peterborough," McAnthony was quoted Sky Sports News as saying. "While I have not been actively looking for new partners or to sell the club, when Jason and Stewart were introduced to me several months ago, I was so impressed with their creative energy and brilliant business minds that it was clear the three of us in concert could really grow all aspects of this club."
Dr Neale is described as 'a serial entrepreneur, turnaround expert and technology executive. He's also alleged to have 'a real love for starting new ventures, turning around struggling companies, developing novel technology and managing fast growing opportunities.' However, MacAnthony has suggested the move doesn't mean the club can go out and spend excessively, but he is seemingly delighted with the latest development.
"This partnership is not about going out and spending silly money on players or their agents but more about building on what the club already does very successfully. I am very excited both Jason and Stewart are on board and over time our fans and the city will see exactly why. This partnership is without doubt one of the best moves I have made in my 11 years as chairman of Peterborough United Football Club."
Mr Thompson, a Canadian based businessman, said via the club's official site: “It’s a testament to the reach and emotional power of English Football that I, who chased a ball across the sodden shale pitches of Canada’s west coast as a lad, grew up with a true desire to be a real part of the game. I always believed that my passion for the game paired with the business and commercial acumen I’ve gained along the way could and should land me where I am today. I’m grateful to Darragh for helping me achieve this goal and excited to deliver many more successes with him, Jason and the entire Posh organisation.”
It's been a huge week for Posh, Grant McCann left as manager, replaced by Mansfield Town's Steve Evans and now the first major change to their ownership structure in over a decade. They currently sit eighth in League One, three points outside of the play off race.
The Verdict
Steve Evans arrival certainly makes more sense now, the Scot has a track record of getting on board with well-financed clubs after spells at Crawley, Rotherham and Mansfield. It would be naïve to think that either announcement hasn't been in the planning for a short while. It does point to an exciting future for Peterborough fans though, Darragh MacAnthony has always proved to have the club's best interests at heart and he's unlikely to allow investment that won't significantly better the current set up.