December 21 – A US investor has taken a controlling stake in Scottish Championship side Dundee United in a deal estimated to be worth £1 million.
Businessman Mark Ogren Stillwater, Minnesota, has acquired more than 85% of issued share capital in the Tannadice club from outgoing chairman Mike Martin and James Fyffe. He has immediately set his sights on a return to the Scottish Premier League – the club are currently third in the table, five points of league leaders Ayr United.
Ogren will take over from Martin as club chairman while Fyffe is remaining on the board. He will be joined on the board by his son Scott.
Ogren said in a statement on the club’s website: “We are delighted to confirm that we have acquired the majority shareholding in Dundee United FC.
“My son and I have been working tirelessly, alongside our sports advisors Revolution Global Sports Consulting and lawyers Brodies, to reach an agreement with Mike Martin and Jimmy Fyffe…
“We are very excited at working with the Head Coach, the players, the staff and most importantly the supporters of Dundee United to achieve promotion back to the Ladbrokes Premiership and make Dundee United Football Club a force within Scottish football once again.”
“This is a crucial period for the club, and we understand that the short-term focus must remain on ensuring the team continue their good form.
“It is our intention now to lay foundations that will create future success for the club, and to this end, we look forward to coming to Tannadice to outline our plan and create one vision for success that everyone connected with Dundee United can believe in.”
Ogren made his money in the family oil business Croix Oil Co which he part-sold for an undisclosed sum to two separate buyers.
Croix Oil consists of dozens of convenience stores, wholesale fuel assets and about 70 dealer supply contracts. The company was also the fuel distributor for BP, Exxon, Mobil, Shell and Marathon.
He is the majority owner of the Sioux Falls Canaries in South Dakota, an independent professional baseball team that plays in the American Baseball Association. He is also part of an investment group that owns the Sioux Falls Stampede ice hockey team, which plays in the United States Hockey League.
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