Southampton takeover: Serbian-born businessman completes £100m deal

CGTN

text

Marcus Rashford (L) of Manchester United vies with Oriol Romeu of Southampton during the English Premier League football match between Manchester United and Southampton in Manchester, Britain, July 13, 2020. /Xinhua

Southampton have confirmed a Serbian-born cable television tycoon has completed a £100m takeover of the club.

Media reports on Tuesday indicate that Dragan Solak, founder of United Group, has invested a chunk of his fortune in a controlling stake in the Saints, who sit 14th in the table, 10 points clear of the relegation zone.

Southampton have now confirmed the deal which sees Sport Republic, a London-based investment firm in the sports and entertainment industry, acquire a controlling stake in the club.

The takeover brings an end to the majority ownership of Gao Jisheng, a Chinese businessman who bought an 80 per cent stake in the club in 2017.

Katharina Liebherr retains her 20 per cent minority shareholding.

(With input from agencies)