Bristol Rovers announce new ownership structure
The new owner has revealed big new plans for The Gas
Last updated 20th Jun 2024
In what's a brand new era for the club, Bristol Rovers have confirmed a change in the structure of ownership - something which is hoped will help The Gas thrive well into the future.
On Thursday, the EFL approved the deal, which will see Mr. Hussain AlSaeed buy a 55% share in Dwane Sports, the holding company of the club.
He will join Wael (40.5%) and Samer Al Qadi (4.5%) as co-owners of Dwane Sports - and as a result, the football club.
Mr AlSaeed's also joining as chairman of the board of directors, whilst Mr. Al Qadi stays as club president and Abdullatif AlSaeed will remain as the executive vice president.
In a statement, Mr. AlSaeed said: "I am privileged to join Wael as a partner of BRFC. I have been a huge football fan for many years, and it has always been my ambition to own a stake in a club.
"BRFC is the one club that I most desired to be a part of, due to its great fanbase and future potential.
"From this day on, I assure the fans that we will be working tirelessly on the sustainability and growth of the football club.
"Rovers are a club with huge potential that is still untapped, and it is our duty to make sure that we do everything possible to improve the current state.
"I have really enjoyed my time in the lovely city of Bristol, and I hope to contribute to the community in the best manner possible.
"I would like to take this opportunity to thank all of our beloved fans for their continuous support to the club. I look forward to meeting you all at our first home game of the upcoming season."
The club say it means, apart from the people they owe money to as 'ordinary trade creditors', they're now substantively 'debt free', thanks to a capitalisation of the debt owed to Dwane Sports.
Mr. Al Qadi added: “I am delighted and honoured to welcome on board Mr Hussain and Mr Abdullatif AlSaeed.
"This has been a long process to get to this stage to ensure that the changes are suitable for all parties and give us the best possible chance for success.
"Over the past few months as discussions have developed it has been clear to me that Hussain and Abdullatif not only have a consistent vision with ours for the club but they also have the expertise and resource to help move us forward quicker.
"I am sure that you will all join me in welcoming our new investors to the club and giving them all of your support to help us achieve our aims.”