American consortium become majority shareholders of Daggers
PUBLISHED: 12:24 14 September 2018 | UPDATED: 12:24 14 September 2018
National League club confirm they have new owners in statement, bringing an end to period of financial instability
Dagenham & Redbridge are under new ownership after an American consortium completed the purchase of a majority shareholding in the Vanarama National League club.
The deal sees Victoria Road Football, LLC become the majority shareholders of the club, while the club’s Full Members and directors Dave Bennett and Steve Thompson retain their existing holdings in the club.
Victoria Road Football, LLC is a new company led by Peter B. Freund, Craig Unger and former Manchester United keeper and United States international Tim Howard.
The other members of the consortium are Dan Schwab, Michael Schwab, Amy Silfen and Mark Butler.
The structure of the club’s new board will see Freund become executive chairman, while Paul Gwinn JP will remain as chairman.
Thompson will remain as managing director and the remaining directors will be Unger, Bennett and Mark Odams.
Victoria Road Football, LLC were advised by boutique investment bank Inner Circle Sports of New York City and Leeds-based Walker Morris Solicitors, while Mel Stein of Clintons Solicitors also helped in the deal being finalised.
The deal puts an end to a turbulent period in Daggers’ history, with the club having been financially troubled since former director Glyn Hopkin ceased funding the team last season.