Huddersfield Town has become the latest English club to be owned by an American group. Half of all Premier League teams currently have ownership ties to the United States. The Athletic also recently reported that nearly 30% of English Football League (EFL) clubs have American investors.
Huddersfield have been a mess during the current campaign. They currently sit 22nd out of 24 teams in the Championship table and are on their sixth manager of the season. This comes after a third-placed finish in the division last season. Huddersfield were beaten by Nottingham Forest in last year’s Premier League promotion playoffs
American takeover of Huddersfield Town not straightforward
Financial issues have hampered the club in recent months. In fact, Huddersfield nearly entered administration if not for the takeover announced on Thursday. In the deal, outgoing owner Dean Hoyle first bought the remaining shares of the team to hold a 100% ownership in the team. He then sold the entirety of Huddersfield Town unnamed American consortium.
“We can confirm that Dean Hoyle has completed a deal to acquire the remaining 75% shareholding in Huddersfield Town from Pure Sports Consultancy. As a result, Dean Hoyle now owns 100% of the shares in the football club,” an official statement from Huddersfield read on Thursday.
Huddersfield Town can today (23 March 2023) issue an update on the Club’s ownership.#htafc
— Huddersfield Town (@htafc) March 23, 2023
“Simultaneously, Mr. Hoyle has exchanged contracts with a North American group on a sale of the 100% shareholding in Huddersfield Town. Completion is subject to legislative and governance procedures. We will give more information to supporters as soon as these procedures have been completed.”
Hoyle also writes off nearly $50 million in deal
Along with selling the team at a reduced rate, Hoyle also reportedly agreed to write off around $49 million. The Daily Mail claims that Huddersfield actually owed Hoyle the money, but the new owners would not purchase the club with this debt in mind.
Hoyle previously took over Huddersfield in 2009 before selling shares to Phil Hodgkinson. He then returned in 2021 to invest back into the club after Hodgkinson’s financial issues. Huddersfield have eight matches remaining on the fixture list to avoid relegation. They have not played in the third-tiered League One since 2011/12.